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My Big, Fat, 
Wealthy Life: 

The Idiot Guide to Currency Exchange 


Managing Your Wealth 

This is a comprehensive document that serves as a single source resource for information that was 
captured from the information forums, blogs and websites dedicated to educating Dinarians about how 
to handle new wealth. As stated on all sites, this for informational purposes only. It is highly 
recommended that EVERYONE seeks local professional, licensed advisers to suit your needs. 

I have no personal claim on any of the information presented. It is not my intellectual property. I only 
collected what was already posted by others and put it in a manual in what I believe to be a logical, easy 
to read and understand format. You have my permission to send, post, and duplicate the document as 
you see fit. This book is not to be sold. We are millionaires; the hustle is over! 

Welcome to the land of the wealthy. 

Last updated: February 19, 2014 



- 8 - 

Post by Cabo OOM Forum 

- 8 - 

Due Diligence 

- 8 - 

Know Your Enemies 

- 8 - 

A Guide 


Plione Privacy 

- 8 - 

Investment Plans 

- 9 - 


- 9 - 


- 9 - 



What tn Hn Flr«t 

- 10 - 

Set Up Your Exchange Appointment 

- 10 - 

What Is needed 

- 10 - 

What to Say 

- 10 - 

Non Disclosure Agreement (NDA) 

- 11 - 

Non Interest Bearing Accounts (NIBs) 

- 11 - 

Account Diversity 

- 12 - 

Cash Withdrawals 

- 12 - 

Wiring Funds 

- 12 - 


- 12 - 

A^/lisit tf% Hvino tn ¥riitifi1 AnnniTitrnprit 

- 1^ - 


- 13- 


- 13 - 

Appointment Checklist 

- 13- 

Identification Documents 

- 14- 


- 14- 


- 15- 


Specific Requests 

- 16 - 

- 17 - 

Available Bank Accounts 

H "7 

- 1 7 - 

rroQUCTS, rees ana oervices 

- 1 / - 

Cash Options 

- 17- 

Other Options 

- 18- 

Insurance Options 

- 18- 

Banking and Wealth Management 

- 18- 

Contact Person 

- 18- 

Don't Forget to Require These 

- 18- 


- 1 - 

Money Matters - 1 9 - 

Payable on Death Accounts - 20 - 

770 Accounts - 21 - 

Setting Up a 770 Account - 21 - 

More Information - 22 - 

How to Get the Best Deal - 22 - 

Two Ways the Banks Can Rob You - 22 - 

Mentally Prepared Equals Mentally Tough - 23 - 

Mental Toughness Equals Options - 23 - 

How do You Know You're Not Getting Screwed? - 23 - 

Tony is Our Blue Book - 24 - 

Don't Give Us a Black Friday Contract Rate!! - 24 - 

Leveraging Multiple Banks at Your Exchange - 24 - 

Using One Bank - 24 - 

Fifth Third Bank - 26 - 

Chase - 27 - 

CitiBank - 28 - 

Wells Fargo - 30 - 

High-End Credit Cards - 37 - 

Merrill Accolades American Express - 37 - 

Citigroup Chairman American Express - 37 - 

Stratus Rewards Visa - 37 - 

JP Morgan Palladium - 38 - 

American Express Centurion - 38 - 

Non-Disclosure Agreements - 40 - 

Sample - 40 - 

To Sign or Not to Sign - 41 - 

To Sign - 41 - 

Not to Sign -41 - 

New Developments - 41 - 

Managing Your Wealth - 42 - 

Engage Professionals - 42 - 

Establishing Your Accounts - 42 - 

Account Security - 42 - 

Annuities - 44 - 

Insurance - 44 - 

Spread Fees - 45 - 

Educating Yourself - 47 - 

Six Asset Protection Strategies to Shield Your Wealth - 48 - 

Increase your liability insurance - 48 - 

Consider keeping assets separate - 48 - 

Protect yourself from renters - 48 - 

Review all jointly held accounts - 49 - 

Formalize informal partnerships - 49 - 

Create business entities to shield assets - 49 - 

Resource - 49 - 

Questions to Ask Wealth Advisors - 50 - 

What to Ask - 50 - 

Firm Background and Ownership - 50 - 

Services - 50 - 

Client Education Process - 51 - 

Client Relationships - 51 - 

Discuss the Firm's Level of Success - 51 - 

Client Education and Research - 51 - 

Employees - 52 - 

Client Servicing and Reporting - 52 - 

Pricing and Fees - 53 - 

Account Security & Growth - 54 - 

Protection Resources - 54 - 

Lloyd's of London - 54 - 

Hank Watkins - 55 - 

Insurance Resources - 56 - 

Personal Liability Umbrella - 56 - 

Irrevocable Life Insurance Trusts - 56 - 

Bank Health - 56 - 

CD Investing - 57 - 

The Sovereign Society - 57 - 

Banks, Research and Strategy Makers - 57 - 

Private Banking and Wealth Management Links - 58 - 

Computer Safety - 59 - 

Your New Laptop - 59 - 

Tips & Strategies - 59 - 

Wireless LAN / Public WIFI Security - 60 - 

The Dangers of Online Internet Banking - 61 - 

Hacking - 61 - 

Up-to-Date Information - 61 - 

Secure Logins - 61 - 

Suspicious Emails - 61 - 

Fly by Night Banks - 62 - 

Usernames and Passwords - 62 - 

Resource - 62 - 

Advanced Asset Protection Program - 62 - 

Personal Protection & Privacy - 63 - 

Body Guards - 63 - 

Great Ways to Protect Your Privacy - 63 - 

1®' Law of Privacy -63- 

No Flaunting - 63 - 

Shred Old Documents - 64 - 

Isolate Computer Files - 64 - 

Web Browsing & Email - 65 - 


Home Address Privacy - 65 - 

Home Phones - 65 - 

Mail - 66 - 

Veliicles - 66 - 

Medical Records - 66 - 

Sample Gift Letter - 67 - 

Investments - 68 - 

Gold Dealers - 68 - 

Tax Free Money Market Funds - 68 - 

CD Rate Research - 69 - 

Great Books - 69 - 

Stock Portfolio Options - 70 - 

What is a Trust? -72- 

What is a Trust? -72- 

Establishing a Trust Fund - 72 - 

Life Insurance in an Irrevocable Trust - 74 - 

Income Taxation of Trust Income - 76 - 

Conclusion - 77 - 

Required Documents for Opening a Trust Account - 78 - 

Things to Note - 78 - 

21 Types of Trusts - 78 - 

Off-Shore Banking - 83 - 

Lodmell & Lodmell Statement - 83 - 

The 4 Roles in a Trust - 83 - 

Trustee's Role - 83 - 

Protector - 84 - 

Beneficiaries - 84 - 

Contact Info - 85 - 

Sending and Receiving International Payments - 85 - 

Foreign Exchange Online - 87 - 

The FinCEN Currency Transaction Report (CTR) - 89 - 

Introduction - 89 - 

Expectations - 89 - 

Underlying Obligations - 89 - 

BSA E-FIIIng - 90 - 

Completing the FinCEN CTR - 90 - 

Filing Name - 90 - 

Amended FinCEN CTR - 91 - 

Amended CTR Filing - 91 - 

Obtaining Copies - 91 - 

Saving Electronic Reports - 92 - 

Record Keeping Requirements - 92 - 

Steps for Submitting the FinCEN CTR - 93 - 

Entities - 95 - 

More than One Role - 95 - 

Multiple Transactions - 96 - 

Multiple Transactions Box - 96 - 

The NAICS Code - 97 - 

Acceptable Terms - 97 - 

Forms of Identification - 98 - 

Listing Amounts - 98 - 

Completing Part 1 of the FinCEN CTR - Item 21 - 99 - 

Completing Part 1 of the FinCEN CTR - Item 22 - 99 - 
Completing Part 1 of the FinCEN CTR - Different People/Same Account - 100 - 

Completing the FinCEN CTR - Sole Proprietorships - 1 00 - 

Example 1 - Sole Proprietorships / No Employees - 101 - 

Example 2 - Sole Proprietorships / Multiple Employees - 1 01 - 

Example 3 - Corporations - 101 - 

Banks, Vendors and Currency Rates - 102 - 

Banks - 1 02 - 
Dealers - 1 02 - 
Forex - 1 02 - 
Other - 1 02 - 
35 Ways to Pay Reserves/Layaways - 103 - 

Miscellaneous Details - 105 - 

Private Email Providers - 1 05 - 

FDIC Information -105- 

Estate Planning - 105 - 

Private Foundations - 1 05 - 

1 0 Terrific Dividend-Paying Stocks - 1 06 - 

20 Things the Rich do Every Day - 1 06 - 

Becoming a Better Negotiator - 1 07 - 

Bank Forms - 111 - 

Common Terms - 112 - 


Exchange Process Flow Chart 

Bank Account Flowchart 

IQN Account 
2S% goes to personal holding account 
10% goes to ptf holding account 

Personal Hoidrg Account 
This is your alotted blov/out money. 
Use for purchasing large items 

VNN Account 
25% goes to personal holding account 
10% goes to prf holding account 

PIF Holding Account 
This is your alotted prf money. 
Use for giving large donations 

personal operating account 
max balance of $10,000 
mm balance of 51,000 
use to pay daily living expenses 
use to purchase smaller items 
has a checkbook 
has a debit card 
has online banking 

J'.Vt* Account 
25% goes to personal holding account 
10% goes to pif hoWing account 

IQN Tax Account 

VNN Tax Account 

ZWNT« Account 

prf operating account 
m» balance of 510,000 
mm balance of 51,000 
Use to give to smeW donations 
has a checkbook 
has a debit card 
has online banking 

The following is to be setup for all but the operating accounts: 
[] Deposit slip 

[ ] Aslc for account to be non-testing 

[ ] Ask for account to be non-training 

[ ] Ask for account to be not available online 

[ ] Ask for account to have access restricted to non-essential bank personnel 
[ ] No debit card associated to the account 

The following is to be setup for the operating accounts: 

[] Deposit slip 

[ ] Ask for account to be non-testing 

[ ] Ask for account to be non-training 

[ ] Ask for account to be not available online 

[ ] Ask for account to have access restricted to non-essential bank personnel 
[ ] Ask for privileged debit card for this account 

Pre & Post RV Wise Considerations & Plans 

Post by Cabo i posted this last year, and I just wanted to bring it forward again for people whom 
OOM Forum j^^^y j^^yg j^^^ gggj^ ^Yiis. For those that did, please bear with me. 

Things to consider with your new found wealth. Some items you will use, others 
may not be for you. Do what you feel comfortable with, as I am just trying to help 
you round out your plan. 

Due Diligence Choose your bank (s) carefully, and set up CDARS (Certificates of Deposit Account 
Registry Service) accounts and all accounts should be POD (Paid on Death) 

Do not deal with banks that have derivatives and hedge funds. Look for institutions 
that have an AAA rating. Consider banks that hold multi-currency accounts. 

For an added level of protection consider insuring your money with Lloyd's of 
London. Even most brokerage accounts are fully insured. 

Know Your Recognize that your government, both State and Federal are your biggest enemy to 
Enemies securing your wealth, see a CPA, tax accountant and or tax attorney. Contact an 

attorney / CPA or both that specializes in taxes, trusts, asset protection etc. 

If you know someone who is wealthy, and I mean really wealthy, ask them. You can 
also check here Set 
up your family's trust(s). 

A Guide Set aside 15%-20% of your new wealth for your "mad money" and use this amount 

for your flings into wealth. This is your payoff for your dreams and frustrations. 

If you spend more than this on new homes, automobiles etc., you are on a well 
known pattern of blowing it all. Of course this will depend on how much you have 
invested and how much it RV's for. 

Phone Privacy Get an unlisted telephone number. For your home, with caller ID. For a private home 
phone, use a company name or your Trust when setting up a new phone account, 
rather than your own. Keep things low key and quiet as you don't want long lost 
friends and family members bothering you. Some will eventually find out, but you 
need time to put your plan into action. 

Continued on next page 

Pre & Post RV Wise Considerations & Plans, Continued 

Invest the remaining 80% -85% [after taxes] in safe high paying interest insured CD's 
etc. You're in the big leagues now; banks will want your business. They have private 
bankers and high wealth options for investing. That have proven track record. Again, 
do your due diligence here. 

And don't forget, you can look outside the US for good rates, Panama is paying up to 
7% on large CD'S. Dubai is paying up to 10% on the same amounts, Check Cyprus as 
they have been in the 10% bracket also. Pay the interest to a debit account, spend and 
live on the interest with a Debit card. 

These monies can be split up in multicurrency account to help keep depreciating 
currencies from taking your earned monies. Depending on how much Dinar you have 
to cash in, there could be a lot of interest; to be almost as exorbitant as you Uke, 
living the life so to speak. 

A lOM savings here or off shore could bring you interest of $700,000 to more than 
IM a year in income. I am sure you could survive on that . . .lol Always do your due 
diligence and seek professional help to setting these up. 

Taxation Everything you buy will be taxed yearly either in Real estate taxes, sales taxes and or 

personal property/ luxury taxes, and if you live in one of the States with State Income 
taxes, you will pay the State on all interest earned and not to mention on the principal 
amount when it is received initially. 

Think about this statement.... Maybe move to a State that has the lesser of the 
applicable taxes or no state taxes at all. All States are creating new taxes daily to 
preserve their bloated bureaucracies under the guise of service. 

Check with the professionals on this, but most states have guidelines on how long 
you must live there before you can take advantage of the lower taxable income/ no 
state taxes. 

Survival Stock up provisions, necessities, medical and survival items to get you and your family 

through any type of emergency. Get enough for 8-12 months. You will have the money. 
Hopefully you won't need it, but you will be thankful if you/ family/ friends do... 

Set aside enough liquid funds for you to survive for 8 months to 2 years. Whatever you 
feel comfortable with. 

insurance Upgrade your insurance; medical, personal/ life, home, auto and really consider getting 
umbrella insurance it's cheap enough. 

Continued on next page 



What to do First 

Open a new secure email account ( to use before you call 
bank 800# - only people that will have this email is the bank 

They will ask your name (give first initial and last name) / for your email address. 
Give them your "new" email unless you belong to a group. Tell them how much 
you have to exchange and your zip code so they can direct you to the closest bank 
for your exchange. 

You will need to schedule an appointment with your bank to execute your 
"Currency Exchange". Dial one of the following 1-800 numbers associated with 
your bank of choice to schedule your appointment: 

a. Bank of America - l-800-###-#### 

b. Wells Fargo - l-800-###-#### 

c. Chase- l-800-###-#### 

d. CitiBank - l-800-###-#### 

e. Fifth Third Bank - 1- 800-###-#### 

What is needed You will be asked to provide your name, your email address, and how much Dinar 
(IQN) you will be exchanging and an appointment at your bank's nearest exchange 
center will be made for you. Be able to provide how much of each currency you will 
be exchanging. Go to page 111 for a Bank Record Sheet. 

Additional information will be mailed to you. Make sure you have created a brand 
new email address to use for all your banking. Make sure you arrive at your 
appointment on time as there are an estimated 5 million private holders that will need 
to perform their exchanges too and the U.S. Treasury expects to have the majority of 
the exchanges completed within 7 days after the revaluation is announced. 

What to Say During the exchange process, refer to your Dinar only as "IQN kaqi Currency" (i.e. 

"Hello, my name is (your name) and I am here for my appointment to do my 
"Currency Exchange" of my "IQN Iraq Currency" for US Dollars, please."). 

If you are exchanging Vietnamese Dong, only refer to it as "VNN Vietnamese 
Currency". I do not think an appointment is needed to exchange Dong, but the 
recommendation is that you exchange both currencies at the same appointment. 

When at the bank use the following statement: "I'm here to do an IQN / VNN 
Currency Exchange." 

DO NOT at any time refer to your currency as either Iraqi Dinar also referred to as 
IQD or Vietnamese Dong VND. Be sure to use the "new" code symbols IQN / VNN. 

bet up Your 1. 
Appointment ^ 


Continued on next page 

What to do First, Continued 

What to Say "N" stands for new. 

DO NOT say you want to do a cash out. Or if asked if you want to cash out, say "No." 

Say: I'm here to do a CURRENCY EXCHANGE for my "IQN " currency and/or 
"VNN" Vietnamese Currency. 

You want to do your exchange at a bank with ABSOLUTE REAL-TIME, ON-SITE 
VERIFICATION of the currency you are bringing in, where all currency 
exchanges are instantly credited to your accounts without additional review or 
unnecessary delay, that they have a wealth management division capable of serving 
your banking and investment needs. 

Non Disclosure Be prepared to sign a "Non-Disclosure Agreement" or an "NDA" that your currency 
exchange and the exchange rate you are given will be kept completely private from 
public discussion of any kind for a period of up to 10 years. 

There really are no negotiations regarding the NDA. You sign it, you get your money, 
you adhere to the restrictions it contains. 

Set up your questions in advance along with your NDA and PA - privacy agreement. 
You can find these on line and run by your attorney or have your attorney make them 
for you. 

]Vhy deposit into a NIB account? A NIB account should not trigger a taxable event or 

reporting due to no reportable interest being accrued possibly providing additional 
time to develop better tax strategies. It is also the recommended or suggested method 
to provide a slightly higher level of privacy and security and maybe even insurance 
coverage for those deposits. 

During your exchange open up two new and separate "Non-interest bearing accounts" 
(NIB's). Do NOT put your exchange funds into your existing savings or checking 
accounts. These funds need to be kept separate for taxing and accounting purposes. 
Also, if you are exchanging Vietnamese Dong, that currency exchange deposit should 
also be kept in its own separate accounts. 

Continued on next page 


Non Interest 

- 11 - 

What to do First, Continued 

Account From your working account you should be able to further diversify your funds into a 

Diversity variety of accounts. Remember that your money is your bargaining chip for the best 

rates and perks. Be aware of "Sweep Fees" and "Exchange Spread fees" and how they 
will impact your exchange. Google them. Some, most or even all of them can (up to 
fees levied by the U.S. Treasury) be waived by the branch manager depending on how 
much currency you are exchanging and depositing in the bank. 

a. Checking 

b. Savings 

c. Expense accounts 

d. Trusts 

e. Money Market accounts 

f. 770 Accounts 

g. Payable on Death (POD) Accounts 

h. CDARS (for FDIC insurance on amounts over $100K-$250K) 

i. Business accounts 
j. Foundations 

k. Hard currency/assets (Gold/Silver) 

1. Other monetary instruments 

Cash Cash Withdraws at time of exchange are limited to $10,000. Some banks may not be 

Withdrawals g^^^ handle more than $5,000 cash due to limited cash supply in the vault. You can 
also ask for a debit card containing the $10,000 limit. 

Wiring Funds DO NOT attempt to wire more than $500K from your account to another bank or 
financial institution as this will trigger a "FLAG" event that might result in an 
investigation or the "Freezing" of your accounts. 

Precautions l. Do not park in the bank lot. 

2. Go with someone to the bank; spouse, best friend who is a fellow Dinarian. 

3. Know your rate before you go. 

4. Watch your body language and the banker/tellers as well; everyone is watching 
whether you want to believe it or not. 

5. There is NO rush to cash in; supposedly many weeks and option days to have the 
possible 15% tax advantage with no audits. 

What to Bring to Initial Appointment 

Identification You will be required to present two forms of identification. Some examples include 
a government ID (driver's license, official ID card), social security card, passport, 
credit card or birth certificate. 

Corporations The state issued Certificate of Partnership / LLC / Incorporation. This can be 

accessed online via the Secretary of State's website. Most bank representatives will 
verify the existence of your corporation here even if you present paperwork. 

Click here to access the Federal Tax ID # Form (TIN) online. 

Bank representatives do not need to see your Articles of Incorporation or your 
meeting notes. 


] The currency! 

] Driver's License 

] Power of attorney paperwork (if you have one for someone) 
] Second form of ID (a credit card or passport) 

] Proof of reserves (in case you can lock the rate and come back with them later) 

] Know how much money you need immediately from this appointment (for reserves, 
pay bills, etc.) 

] A pad and a pen to take notes 

[ ] All your invoices, any gift letters (to you) BUT DO NOT PRODUCE UNLESS ASKED. 
More than likely, these documents will only come into play for tax time. 

Continued on next page 

- 13 - 

What to Bring to Initial Appointment, Continued 

Identification You are required to have two forms of identification from this list in order to open a 
Documents b^nk account. 

Primary Identification Documents 

a. Drivers license with photo, issued by a State or Territory of the U.S. 

b. Identification Card with photo, issued by a State or Territory of the U.S. 

c. Valid U.S. Passport with photo 

d. Valid Passport, from country other than U.S., with photo and with a valid 1-94 
or 1-551 card or stamp 

e. Foreign issued ID - Matricula Consular issued by a consulate's office of the 
country of Mexico 

Secondary Identification Documents 

a. Major or local debit/credit card embossed with name (does not include gift 


b. College ID of institution where applicant is currently enrolled 

c. Current Utility Bill bearing name/address used for opening account 

d. Rental/Lease Contract for current residence 

e. Documentation of home ownership for current residence 

f. Current State Issued Learner's Permit 

g. Permanent Resident Card 

h. Certificate of Citizenship or Naturalization 

i. Immigration form 1-571 

j. Certified Copy of Court Order: Must contain full name and date of birth. 

Examples include: Adoption document, name change document 
k. Employment Authorization Card (with photograph) issued by a U.S. Federal 

Government agency 
1. Temporary Driver's License Receipt (only valid if issued within the last 30 

m. Medical AARP or Medical Insurance Card 

Veterans There are some special benefits for veterans if the DD214 Honorable Discharge 

paperwork is shown. Inquire at each bank for the benefits provided. 

Continued on next page 

What to Bring to Initial Appointment, Continued 

Remember i. ARRIVE EARLY! Make sure you know where you are going. Do not loiter. If 

you are too early, stay SECURELY in the general area. 

2. Be discrete, be professional, and be alert and aware of your surroundings. 
BREATHE! Seriously consider hiring security to accompany you to your 
appointment or bring a trusted friend. 

3. Collect business cards from everyone or take their name and phone numbers as 
well as the location of their regular branch office. 

4. THE FIRST THING you will likely do is sign the NDA! 

5. The second thing will be to learn the rates and make sure bank will not be 
charging a spread (reduction of the rate to you because bank takes a 'fee' for 
facilitating the transaction) 

6. If you exchange multiple currencies, open separate accounts for each. DO NOT 
PUT FUNDS IN ANY EXISTING ACCOUNTS you may have with the bank. 
DO NOT CO-MINGLE FUNDS. This is a critical tax issue. 

7. Record your account numbers for each account. 

[ ] IQN Routing number 

] IQN Account number_ 
] Deposit slip . 
] VNN Routing number 
] VNN Account number 

[ ] Deposit slip 

[ ] Ask for all accounts to be NON - testing, Non - training and NOT available 
online (off internet) 

[ ] Get a copy of your signed NDA (Non Disclosure Agreement) 

[ ] Ask for a cashier's check(s) for $ if you need 

immediate funds to deposit in some other current bank account to pay bills, etc. 
until you get your second appointment with your private banker 

- 15 - 

Bank Cash Exchange Check List 


Specific 1. Please waive all bank fees including "bank spread" fees. 


2. Banker to sign and date each IQN purchase receipt upon exchange of dinar 

3. Ragged all accounts as "access restricted to non-essential bank personnel " and 
tagged as "Non-test/Non-Training" Accounts 

4. Provide list of Cashier's Check to be written out: 

5. Book of checks (at least 10) to have with me when I leave 

6. Centurion credit card (AMEX / Black card / optional if qualified or desired / 
NOT RFID-enabled credit/debit card) 

7. $10,000 cash in $50 bills 

8. Gold/silver coins/bars if available 

9. "Proof of Funds Letter(s)" (for each property to be purchased) from the bank to 
show to realtors and/or 10-20 CCCs if still applicable 

10. Obtain copy of NDA & write "All Rights Reserved" over signature and any other 
document / have banker sign my NDA and/or PA - privacy agreement 

1 1 . Do NOT agree to give the bank "power of attorney". 

12. Do NOT let a money manager have complete fiduciary control over any of your 
money. Make sure you have to sign for everj^hing. 

13. Do NOT have a "test" account. 

14. Do NOT have access by all tellers. You want to protect your privacy. 

15. Do NOT have automatic withdrawals on your accounts. 

16. Do NOT have computer or remote banking from your iPhone or computer. 

Questions to Ask Bankers at Exchange Appointment 
























Continued on next page 

Available Bank L 
Accounts 2 



Products, Fees l . 
and Services 2 



- 17 - 

Questions to Ask Bankers at Exchange Appointment, Continued 

















Require These PRODUCTION. 


Bank Services 

Money Matters Some of us will have assets to qualify for "Private Client Services" and possibly the 

bank's "Wealth Manager" Services. Learn the difference and ask for the private banker 
or bank manager to provide the following items. At Chase, the PCS was $250K; Wealth 
Manager officially at $30 million although started giving services at $15million. This 
varies by bank. Don 't be afraid to ask! 

1. No Bank Spread fees and No Bank Transaction fees of any kind charged on the 
currency exchange. 

2. With the "1% over-nights", the "Quarterlies" and the "fractional banking loans", this 
should not be an issue. Highest interest rates available to be paid on my accounts. 

3. Waive forever ALL Bank account fees. Broker Fees, cashier's check fees, notary 
fees, wire fees etc. 

4. Free Safe Deposit Box, Certified Checks, Notarized & Courier Services 

5. Tax/Business/Estate Attorney & CPA 

6. Bank to provide and pay for insurance to cover all account balances 

7. Notification and access to information on investments such as pre-IPOs, real estate 
(REO), and bank trading and sweep accounts. 

8. IF Wells Fargo Bank: Information about Abbott Downing for accounts over 50M$ 

9. Guarantee 12-15% interest per year on deposits. Short Term/High Yield Interest 

10. Bank to provide a team to include a Tax attorney, CPA, wealth planner, trust 

attorney, Estate planning, etc. 

11. Assist in opening an offshore bank account with affiliate bank for foreign 

12. Donations to our favorite charities (Banks matching a certain percentage) 

13. Private transactions representation -assistance in buying a house/car/anything 

14. Private bank debit card such as opal or black card with no RFID 

15. Free Due Diligence Services provided for outside investment opportunities. 

16. Multiple insurance types (Health, kidnapping, etc.) 

17. Low or no interest loans rate if needed in the future 

18. Provide Senior Wealth Managers/Investment Bankers for selection. Increased ATM 
withdraw limits and Use of "out of network" ATMs without fees 

19. No foreign exchange fees for debit card usage outside the U.S. 

20. Concierge services (possible Vertu phone), First class travel arrangements as needed. 

21. Unlimited limo service when visiting any city, in any country other than my 

22. Prime seats at charity events. Sporting tickets, and VIP Concert tickets. 

Continued on next page 

- 19- 

Bank Services, Continued 

What You Should Know about P.O.D. Accounts 
Q: What is a "P.O.D. account"? 

A: "P.O.D." stands for "payable on death." A P.O.D. account is owned by one person 
(called the owner) who has named another person (called the beneficiary) to receive any 
money left in the account when the owner dies. A P.O.D. account may be a savings 
account, checking account, or certificate of deposit at a bank, building and loan or 
savings and loan association, credit union, or society for savings. 

Q: Who can be the owner of a P.O.D. account? 

A: A natural person, adult or minor, can be the owner of a P.O.D. account. 
Corporations, partnerships and limited liability companies cannot be the owner of a 
P.O.D. account. 

Q: If I own a P.O.D. account, who controls the money in the account while I'm still 

A: You control the money. You can withdraw the entire amount if you wish. While you 
are alive, the beneficiary has no right or interest in the account and cannot withdraw any 
money from your account. 

Q: Can I change the beneficiary after my P.O.D. account has been opened? 

A: Yes. You have the right to change the beneficiary as often as you wish while you are 
still alive and capable. However, it is important for you to contact your bank, because 
no change of beneficiary is effective unless it is completed on the form used by the bank 
in the manner designated by the bank. 

Q: Does the beneficiary have to be a person? What about charities and other 

A: No, the beneficiary does not have to be a person. Under Ohio law, any entity or 
organization can be named as a beneficiary of a P.O.D. account, including charities. 

Q: Can I name more than one beneficiary at a time? 

A: Yes, Ohio law allows you to name more than one beneficiary for your P.O.D. 
account. However, you should determine whether your bank permits multiple 
beneficiaries and if your bank has a special form to designate multiple beneficiaries. 

Q: What happens to the money in my P.O.D. account when I die? 

A: Any money in the account when you die will pass automatically to your beneficiary 
or beneficiaries. As long as your designated beneficiaries survive you, the money will 
not pass under your Last Will and Testament and will not be subject to administration in 
the probate court. 

Payable on 



Continued on next page 

Bank Services, Continued 

770 Accounts A 770 account is a whole life savings policy that pays a dividend. It is also called a Life 
Insurance Retirement Plan, or LIRP. It is also knovm as the President's Account. It was 
reportedly introduced by Tom Dyson, a publisher at Common Sense Publishing, in the 
Palm Beach Letter. According to Dyson, there is a secret type of bank account that has 
been used by very wealthy people over several generations, including several US 
Presidents. Apparently, it is a secret alternative to the known stock market, which 
functions similarly to life insurance. This 770 Account is code-speak for a specially 
designed Financial Instrument revealed by Nelson Nash called The Infinite Banking 
Concept. It actually uses a specially designed Permanent Life Insurance policy with a Paid 
Up Additions Rider that essentially does turn you into your own bank where you can 
finance all of your own purchases and pay the interest back to yourself through these 
specially designed policies. 

This "770 account" is like a Permanent Life Insurance with a twist - it maximizes the 
Life Benefit and not the Death Benefit. There are many factors that need to be in place 
before the life insurance policy can turn into a "770 account." It has to be from a Mutual 
Insurance company (Participating Whole Life Insurance), it needs to have a paid up 
additions rider, you will need to be on the Modified Endowment Contract line (MEC) of 
the policy, and it works better with non-direct recognition companies. When structured 
correctly as a 770 account, you will get the following: No risk, guarantees, no penalties, 
liquidity use and control of your money, protected from creditors, leverage, tax deferred 
growth, tax free distributions, competitive rate of return, collateral, optional disability 
benefits until age 65, and a Death Benefit that will go to the heirs tax free. 

There are many insurance companies that can set up an account. However, there are just 
about 7 companies in the USA that are the best for what you want to accomplish. You 
can't go directly with the companies, but you will need to find a broker that is connected 
with those companies. If he/she is a good broker, some time will be spent reviewing your 
case and comparing results with all 5 companies to make sure you will get the best policy 
or 770 account for you. You need to be careful because very few life insurance agents 
know how to do these 770 accounts. You need special riders etc. Most importantly, the 
federal government put a restriction on these accounts in the 80 's because they were 
losing too much money on taxes! So now the government sets the maximum amount of 
money you can put in these accounts based on the Death Benefit you are purchasing. So 
you want to be right there on the maximum amount you can put to maximize your life 
benefits (not your death benefit). But if you pass the maximum amount line, then it 
becomes an MEC, which means that you lose the tax-free privilege. 

Continued on next page 

Setting Up a 
770 Account 

-21 - 

Bank Services, Continued 

The Pirates of Manhattan By Barry James Dyke will tell you everything about 770 
accounts: what it is, who uses it, how to use it, etc. There are many people that say they 
can open a 770 account; but, few can really give you the best for the money you are 
depositing into it. But if you want to just get more info on this account - you can read 
that book - it is cheaper than subscribing to the Palm beach letter and you will get more 
information - it is an excellent book. 

Have you considered that your CE bank appointment will be the single most important 
financial event of your entire life? Bigger than your house. For most, bigger than your 
current net worth. Let that sink in. How much thought have you given to this CE? 
What if everything you thought about this moment came apart on you in that short 20 
minutes? HOW? Well, your first mistake may be failing to expect that Murphy's Law 
works in the most unexpected places and events. Things can and will go wrong - unless 
you've prepared yourself for the worst . When you walk into the bank, it would be best 
if you anticipated not only the routine steps, but also what things could go against you. 
The last thing you want are any bad surprises. In addition to the security issues for 
getting your currency safely inside the bank, the next step may be another place you 
could get robbed. 

There are two areas where the banks are about to take advantage of you: the CE rate and 
banking fees which include currency spreads (the lower price when you sell it back). 
Anticipate that the exchange rate won't be what you thought when you left home. Could 
it be higher? Probably never. Expect to be offered a lower CE rate. Street rates 
fluctuate. But the contract rate is another story. 

The second area you can expect to get screwed is the area of bank fees, the most 
notorious being the currency spread. If you buy a car, you pay retail. Turn around and 
sell it back to the dealer and he will only offer you wholesale. That's the currency 
spread. If I were trading in the Forex market I would expect this. The RV is not a 
THE RV Currency Exchange. 

Normally nobody heads for the bank expecting to get robbed. But after the RV, your 
CE experience at the bank can be less than ideal for your financial future unless you 
have mentally prepared yourself for what's ahead. Would you shop for a car without 
doing your homework? Buy a house? Are you prepared for a tougher negotiation than 
both these combined? They aren't called "Banksters" for nothing. You're going to 
need to be a mentally prepared negotiator! 



How to Get the 
Best Deal 

Two Ways the 
Banks Can Rob 

Continued on next page 

Bank Services, Continued 

Equals Mentally 

Before you rationalize that a lower CE rate is okay, or that the spread cost isn't all that 
much, remember that the banker isn't about to let you go out the door with your currency 
still in hand. It's critical that you understand this point: Your ability to stand up and move 
for the door is your one and only advantage. This is your negotiating leverage. Never 
forget this. You must be mentally tough when you sit down with your banker to CE. I 
don't know about you, but I'm going in with the full expectation that I'm NOT going to 
pay for any spreads. Have a percentage in mind. Remember, 1% of your DINAR may 
seem like a small amount, but that 1% now gets multiplied by the exchange rate. If you 
exchange a million dinar at $5 (for a low example) that 1% is now $50,000 USD. 
Multiply that by every million dinar you have, in addition to all the dinar that everybody 
else has. That's a lot of money for the privilege of doing business with a banker. Think 
about what that 1% will be at a higher CE rate! Never forget what interest rates the 
banks are currently offering on your savings. It sure as heck isn't 1%. 

Click here to read the 27 Simple Ways to become a Better Negotiator article provided 
later in this book. 

Equals Options 

Mental So what do you do when the banker refuses to drop the spread? Do you cave? Do you 

Toughness rationalize, "This is more than I would have had anyway."? Do you say, "This is better 
than nothing."? It's your money. Remember, just like there's always another car lot, there 
are a lot of banks willing to do business with you. Don't settle for less. You will not have 
the POWER to negotiate the BEST deal unless you are prepared to stand up and head for 
the next bank. Just like the car lot. Remember, the bank staff has been ordered to not 
allow you to leave the bank with your money. YOU HOLD THE POWER OF DOING 
THE DEAL YOUR WAY. But only if you're prepared to WALK. 

How do You 
Know You're 
Not Getting 

This is the most important question of our entire Dinar experience. Also the most 
frustrating issue. We are being put at a great disadvantage by the PTB in case you haven't 
noticed. Who or what is the only source of information on the real CE rate? When you 
buy a car, do you believe the price on the window sticker or the price you get from the 
sales guy? How about from his manager? How about the "factory invoice" they hand you 
at the negotiating table? Do you really believe any of that? If you do, you paid too much 
for your car. Haven't we all? Isn't this CE more important than buying a car? Remember, 
rich people didn't get rich by giving their money to those who don't deserve it. Banks 
don't deserve making spreads on the RV. (You can take that to the bank.) Put another 
way, every dollar you save on spreads helps offset your tax payment. Why pay taxes 

Continued on next page 


Bank Services, Continued 

Tony is Our Let's face it, other than getting a contract CE rate quote direct from the UST, Tony is the 
Blue Book most credible source in DinarNation. Period. Armed with that rate we're off to the races. 

If UST is smart, they will ensure that the higher contract rate that Tony publishes will 
remain in place until everyone has a chance to exchange. Why? Because if they don't, 
there will be a stampede. It will be ugly. It will be the worst nightmare of the UST and 
the banks. Who in their right mind would design a currency exchange procedure that 
was first-come-gets-the-best-rate? It will be crazy. People become irrational when they 
think they're about to lose money on the deal. It's imperative that the contract CE rate 
remain stable for a period of time that gives every person a reasonable chance to CE 
without fear of losing money. 

Contract Rate!! 

Don't Give Us a Remember: Prepare yourself to be a tough CE negotiator. If each of us puts our foot 
^Ifi^-l'ii'^fJl-ii down and refuse to pay bank spreads, then it will be easier for the next person who 
comes in to CE behind us. If the first ones to CE make it easy for the banks to take 
advantage of us, it will only make it more difficult for the next guy to negotiate his best 
rate. All for one, and one for all. We're all in this TOGETHER. 

IVIultiple Banks 
at Your 

Use this diversification method to leverage the banks. 

1 . Exchange and deposit IQN at one bank. 

2. Exchange and deposit ZNN at one bank. 

3. Exchange and deposit VNN at one bank. 

What does this strategy do? 

1. It allows you to contact competing banks and say, "I have XYZ in holdings at 
ABC Bank, sir. 

2. What types of products can your bank provide me that ABC Bank cannot 
provide me? 

3. What are the advantages of me moving my assets to your bank, sir? 

Using One First, it is not suggested that you use only one bank. It is suggested that you diversify 

^^"^ with multiple banks. 

1. Open an NIB A for each kind of currency you hold. Note : The NIB A issue has 
been a hot topic. Decide if you want an NIBA or an IB A. 

2. Leverage BRICS currencies into the multi-currency account or multiple currency 
account after your exchange. 

3. There is an additional 13-15 countries that are now trading/swapping outside of 
the USD. Consider adding their currency to your portfolio. 

4. You can only exchange back to USD from MCA as needed to hedge USD 

Continued on next page 

Bank Services, Continued 

Using One This Viewpoint discusses how investors may reduce income taxes imposed on an 

^^"'^ irrevocable trust while still using the trust to reduce estate and gift taxes due. In 

(continued) particular, the paper discusses how an investor can combine wealth transfer rules with 

the purchase of permanent life insurance to minimize taxes while transferring additional 

wealth to heirs. 

To review the various available services, click here. 

The Power of 

For 2013, the combined lifetime gift and estate tax exemption is set at $5.25 million per 
individual. Thus, a married couple can pass on a total of $10.5 million during life or at 
death without any gift or estate tax. This amount is in addition to the gift tax exclusion that 
permits a donor to make annual gifts of up to $14,000 to an unlimited number of donees.) 

The high lifetime gifting exemption provides a significant wealth transfer opportunity. If a 
donor gives away $5.25 million now, the gift can appreciate during the remainder of the 
donor's life. By the time the donor dies, the gift may have increased substantially in value. 
Yet that full amount will be entirely free of federal estate tax.' 

Typically an investor wishing to make a large gift to children or grandchildren will put the 
gifted amount in an irrevocable trust, rather than giving it to heirs outright. Use of a trust 
lets the investor control the later distribution of the assets, keeping them away from heirs 
who, due to youth or inexperience, might squander them. 

Investment Your Private Wealth Advisor will craft detailed, comprehensive strategies based on a wide 

lUlanagement variety of considerations, including your timeline, risk threshold, tax situation, personal 

values, portfolio objectives, income sources and current holdings. He or she will also work 
closely with you to help select from among the best investment strategies in the world, 
either inside or outside the firm, relying on the same rigorous quantitative and qualitative 
processes used for Merrill Lynch's top institutional clients. And your Private Wealth 
Advisor will continually monitor and review your portfolio's performance to help 
determine if you're on track to achieve your life, wealth and legacy objectives. 

Throughout the process, your Private Wealth Advisor will be drawing on the renowned 
capabilities of Bof A Merrill Lynch Global Research, capitalizing on our global scale to 
stay abreast of changing market conditions. Your portfolio may include traditional as well 
as alternative investments, some of which are available exclusively to Private Banking and 
Investment Group clients. The result is a dynamic investment portfolio that is timely and 
timeless — reflective of the daily conditions of the marketplace, yet grounded in sound 
market fundamentals. 

Continued on next page 


Bank Services, Continued 

Preferred Financial Services 

With your Preferred Program membership you get preferred financial services, 
including exclusive savings, compelling rewards and personalized service from your 
dedicated team. From personalized banking, preferred checking and specialized lending 
to special rates and preferred banking upgrades. Open your Fifth Third Preferred 
Checking account with a $50 minimum opening balance, and maintain a combined 
account balance equal to or greater than $100,000 across all of your household accounts 
(including checking!, savings!, money market deposit accounts!, bank! and 
brokerage* IRAs, certificates of deposit!, investment management accounts*, 
annuities*, and brokerage* balances). 

Preferred Banking Benefits and Rewards 

Banking Rates 

• Preferential rates on your high-yield checking account' 

• Relationship interest on Fifth Third Relationship Money Market Accounts. High 
interest savings accounts with tiered interest rates let you earn higher rates for 
greater balances^ 

• Additional 0.25% on any non-promotional rate CD of $500 or more, terms of 6 
months or more 

• Up to a 0.50% lower interest rate on direct auto loans, home equity loans, and lines 
of credit^ 

• Special discounts on mortgage loans'^ 

Waived ATI^ and 
Service Fees 

• No Fifth Third ATM fees and fees from other ATM networks rebated back to you 
on the same day - up to 10 times per month 

• Monthly service fee waived for Savings accounts 


• For each year you are enrolled in the Preferred Program, you will receive 1,000 
anniversary Real Life Rewards^*^ points (with a cap of 10,000 points per year). 


• Complimentary Fifth Third custom checks (standard size) and 25% discount on 
other personal styles 

• Complimentary notary services, cashier's checks and travelers checks 

• Complimentary Fifth Third Identity Alert with 24/7 credit monitoring 

• Complimentary 3" x 5" safe deposit box or discount on larger size 

World Debit 

• Savings of up to 20% to 50% at your favorite retailers with privileged access to the 
MasterCard Savings Plus™ program 

• Price Protection - if you find a lower price on an item within 120 days of the 
purchase date, you may be reimbursed for the difference 

• Special access to outstanding rewards and preferred offers, including hotel 
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Fifth Third 


Continued on next page 

Bank Services, Continued 

Preferred Banking Benefits and Rewards 

Earn Double Real Life Rewards'" points on dining, travel, gas, and groceries and 1 
point per $1 spent on all other purchases 

$79.00 Annual fee is waived for Preferred Program members with a combined 
account balance of $100,000 

No international transaction fees. The 3% transaction fee in U.S. dollars is waived 
for credit card transactions. 

Works as both a credit and debit card - link the Fifth Third Preferred Card to your 
Fifth Third Checking Account for Debit and ATM use and enjoy financial 
flexibility of 2-cards-in-l 

Investment & Insurance Privileges 


•Discounted self-directed online trades 

•No annual custody and record keeping fee on brokerage accounts 
•Reimbursement for up to $75 in "transfer-out" fees 
•No "transfer-in fees" 


•Complimentary Insurance Review 

Chase J.p. Morgan is one of the most respected names in finance and a global leader in asset 

and wealth management services. For more than 160 years, J.P. Morgan has helped 

CHASE O individuals and families build wealth, manage it effectively and pass it on to future 

Through your J.P. Morgan Private Client Advisor, you can tap Into J.P. Morgan's deep 
expertise of developing comprehensive financial strategies and building portfolios. Your 
Private Client Advisor works from an in-depth understanding of your specific financial 
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You'll also have access to a broad range of timely information through J.P. Morgan's 
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Because every investor is different, J.P. Morgan has developed an investments 
philosophy that takes into account the specific goals of the individual. 

That philosophy is a combination of core portfolio management and an opportunistic 
investment approach. 

Continued on next page 

rii Lii I iiiru 

Preferred Card 

-27 - 

Bank Services, Continued 

Core Portfolio 

We'll help you take full advantage of investment opportunities by implementing a long- 
term view, complemented by shorter-term positioning based on current market 


We'll provide access to J. P. Morgan's highest conviction ideas and themes, implemented 
through either dynamically managed portfolios or within single asset class solutions. 

Ultimately, we believe this approach to investing provides you with the best J.P. Morgan 
has to offer - sound risk management coupled with the ability to enhance core portfolio 
returns through thoroughly researched, timely, well executed investment solutions. 


CitiBank services depend on your state. Click here to identify what is available to your 
area. These details are general and may or may not apply to your location. 




Invest with a Financial Advisor. 

• For qualified investors with complex needs, we offer personal financial advisory 
services from Citi Personal Wealth Management Financial Advisors. 

• Through Citi Personal Wealth Management's Citi Clarity® 5 -step wealth 
management process, we are committed to helping you work toward your 
financial objectives and continue to plan for a more secure future for yourself and 
your loved ones. 

• Be sure to ask your Financial Advisor about Citi Clarity and how it can help you 
focus on your financial future so you can pursue your goals. 

To learn more, call at 800-374-9700. 

Personal Service 

Your advisor is conveniently located in an office or select Citibank branches to 
discuss your investing strategy and review your portfolio with you. 

Your advisor will learn about your goals, develop your long-term plan, and set up 
your portfolio. 

You'll experience a consultative approach with your advisor, who will review 
your progress with you at your request and discuss what adjustments might help 
you better reach your goals. 

• As your needs evolve, your advisor will help you plan for and adapt to life 
events, major purchases and new goals. 

Continued on next page 


Bank Services, Continued 

• You'll have access to leading specialists and extensive global resources of Citi, 
including research from Citi Investment Research and Analysis as well as 
reputable third-party research. 

• Our advisors stay up to date with insights from Citi's Global Investment 
Committee, which utilizes a disciplined process for evaluating investment 
managers and analyzing market conditions. 

• We'll also help you stay abreast of the latest market news and understand how it 
affects you and your investments, with timely newsletters, articles and alerts. 

Professional Your advisor is part of a team with areas of specialization, offering: 
Advice r- ^ o 

• Financial planning as part of the Citi Clarity process can include but is not limited 

to retirement planning, education planning, trust and estate planning needs. 

• Financial planning, retirement planning, education planning, trust and estate 

• Citi Clarity incorporates a financial plan and helps with retirement planning, 
education planning, trust and estate planning. 

• Tax-efficient investing, wealth preservation and transfer. 

• Capital markets, alternative investments and international investing. 

• Investment advisory programs such as separately managed accounts and portfolio 
management programs. 

• Business owner services such as cash management, business retirement plans, 
insurance needs and help with succession planning. 

Citi Clarity® What does your financial future look like? 

• You've probably thought a lot about your future — but you may not have found 
time to work with a Financial Advisor to formulate a plan that could help meet 
your goals. 

• Whether you need help with planning for a future purchase, insurance, or estate 
and trust services, let us help you get started. 

• Citi Clarity's 5-step wealth management process can help you work toward your 
financial objectives and plan a more secure future for yourself and your loved 
ones. Our wealth management process is designed to help you: 

• Define your goals. 

• Create a plan to help pursue them. 

• Gain clarity about your financial life. 

Wells Fargo At Wells Fargo Private Bank, our holistic approach to wealth planning starts with your 
relationship manager. Click here to review all of the services provided. Only a few are 
included in this book. 

Bank Services, Continued 

Wells Fargo 



Key elements of wealth planning at The Private Bank 

Our wealth planning process focuses on developing a clear picture of your unique 
needs and goals, and leads to a personalized action plan that aligns solutions with those 

The wealth planning process begins with a core planning review that helps enable you 
and your family to: 

• Identify and prioritize your most important wealth management goals and 

• Review a net worth statement to gauge your progress toward reaching those 

• Articulate how you oversee your investments and view your personal tolerance 
for investment risk 

• Review a checklist of important estate documents, including wills, powers of 
attorney, living trusts and beneficiary designations 

For clients with comprehensive or complex wealth planning needs, we can provide 
consultation on various components of your wealth plan, including: 

• Retirement and cash flow planning 

• Company benefits and equity compensation analysis 

Risk analysis 

Insurance At The Private Bank, an insurance specialist serves as a key member of your wealth 

management team who will review your insurance portfolio in the context of your 
current needs, projected income, retirement plans and legacy intentions. 
Insurance is synchronized with your overall wealth plan 

All too often, insurance is treated as something separate from a total wealth plan. At 
The Private Bank, your insurance specialist participates actively in the wealth planning 
process to ensure that your insurance portfolio properly reflects your needs and goals. 

Working in partnership with your relationship manager, your insurance specialist can 
recommend solutions and strategies that complement your overall wealth plan. Specific 
services include portfolio review, carrier risk analysis and monitoring, custom-tailored 
solutions, and access to a comprehensive selection of insurance products. 

-31 - 

Continued on next page 

Bank Services, Continued 

Wells Fargo Insurance solutions for your needs 

Insurance offers more than protection from unforeseen events. Insurance solutions can 
help you at every stage of your financial life, whether your goals are wealth protection, 
liquidity creation, wealth accumulation or wealth transfer. 

Wealth Protection 

Help ensure that if the unexpected occurs, you and your loved ones will be able to 
preserve your quality of life. 

• Life insurance 

• Disability insurance 

• Long-term care insurance 

Liquidity Creation 

Utilize insurance to help address estate taxes or business-continuation needs: 

• Irrevocable life insurance trusts (ILITs) 

• Funding buy/sell agreements for business owners 

• Key-person insurance for business owners 

Wealth Accumulation 

Accumulate funds long-term on a tax-advantaged basis: 

• Life insurance retirement plans (LIRP) 

• Non-qualified executive compensation 

Wealth Transfer 

Increase the transfer amounts to your beneficiaries while reducing taxes: 

• Annuity maximization 

• IRA stretch alternative 

• Charitable-giving strategies 

• Single-premium life insurance 

Our approach to investments is focused on you 

At The Private Bank, we build our investment management process around you. Your 
investment manager works with you to build a thorough understanding of your financial 
situation - your financial goals, immediate needs, longer-term lifestyle desires, 
philanthropic wishes and legacy needs - along with your timeframe and risk tolerance. 

Working from a strong understanding of you, your investment manager will then walk 
you through our disciplined investment management process. 

Continued on next page 

Bank Services, Continued 

Personalized asset allocation 

Asset allocation is the process of combining different asset classes - such as equities, fixed 
income, real assets and complementary strategies - with the intent of optimizing the 
relationship between risk and return. It will be the cornerstone of your investments strategy. 

Our process carefully looks beyond return and risk to address cash flow, liquidity, time 
horizon and tax efficiency needs. We also leverage our in-house RiskOptics^'^ process to 
examine and plan to address the many forms of risk that investors face today, including 
transparency, leverage, illiquidity, concentrated investments and market volatility. 

Investment Solutions 

We employ a team of dedicated analysts who develop and deliver a full range of in-house 
investment strategies, including: 

• Customized equity and fixed income investments 

• In-house and third party solutions 

• Structured products 

• Risk mitigation strategies 

• Socially responsible investments 

• Public and private real estate 

• 1031 exchange capabilities 

• Complementary strategies, such as our hedge fund of funds 

Your investment manager will work with you to implement our investment strategies based 
on his or her understanding of your goals, timeframes and risk tolerance. 

Comprehensive Manager Research for Your Investment 

Our manager research team takes a rigorous and disciplined approach to due diligence. We 
have developed a comprehensive approach that blends qualitative research with statistical 
analysis to identify high-quality investment firms that adhere to well-documented, consistent 
investment processes. 

We look for firms with long-term investment vision as opposed to those that react to day-to- 
day market fluctuations. We also diligently monitor our managers, making adjustments as 
necessary to help our clients achieve their goals. 

A Diversified Mix of Investments 

We believe in bringing you the strongest investment solutions to help you achieve your 
goals. As one of the largest diversified financial services firms in the United States, Wells 
Fargo and The Private Bank have been able to leverage our standing to bring together a 
diversified array of in-house and third party investment solutions. 

Your investment manager is agnostic about who the provider is, focusing instead on whether 
or not a solution meets your asset allocation needs and can help you achieve your objectives 
fo r your investments. 

Continued on next page 


Bank Services, Continued 

As one of the largest providers of estate services and estate settlement solutions in 
America, Wells Fargo has helped clients and their families transition their wealth for 

Why choose a professional executor? 

Settling an estate can be a complex and time-consuming matter. Errors and delays in 
execution can result in needless litigation, costs, taxes, expenses and penalties. 

No matter how well intentioned, an inexperienced executor can endanger the smooth 
and expeditious settlement of your estate or trust. The use of a professional executor can 
help a family maintain harmony during one of the most stressful and emotional times 
they may ever face. 

Why select Wells Fargo Estate Services? 

When you name Wells Fargo to be the executor, personal representative or trustee of 

your estate or trust, our experienced Estate Specialists work to help implement your 
estate plan accurately, handle disputes impartially and distribute assets in a timely 
manner to heirs. 

Wells Fargo Estate Services is staffed with experienced and dedicated specialists 
including Certified Financial Planner™ professionals and Certified Trust and Financial 

Using a team approach, Estate Services brings a wealth of experience, education, 
problem-solving skills and insight to estate and estate settlement. 

A wide selection of estate settlement services 

Given our extensive experience in professional estate and trust administration, both 
beneficiaries and the testator benefit when Wells Fargo Estate Services manages the 
trust or estate settlement process. 

In addition, as a corporate fiduciary working with a team of specialists, we can provide 
estate settlement services that an individual executor may not be able to provide, such 

• Timely collection, valuation and distribution of assets 

• Professional, experienced asset administration 

• Valuation, management and disposition of closely held business interests 

• Estate, inheritance and fiduciary income tax preparation utilizing advanced post- 
mortem planning 

• Impartial dispute resolution and objective decision making 

• A wealth of resources to properly and efficiently settle estates 

• An established process with a high level of service to families and beneficiaries 

Continued on next page 

Bank Services, Continued 

As one of the largest providers of trust and estate settlement services in America, Wells 
Fargo is committed to providing exceptional service to our clients and their 
beneficiaries. Estate settlement is an intricate, exacting process and for those you love, 
it could be an emotional and financially sensitive balancing act. 

Estate Agency Services 

Wells Fargo Estate Services also provides a comprehensive suite of solutions and 
services for the Court Appointed Fiduciary for an Estate (Executor, Personal 
Representative, or Administrator) or Trust. 

Through our team-based approach, we bring together a team of dedicated specialists to 

support the unique needs of each estate or trust. Here are some of the tasks that Estate 
Services will undertake to help you fulfill the duties of an Executor: 

• Asset valuation 

• Safeguarding assets 

• Marshalling assets 

• Asset administration 

• Tax preparation and payments 

• Dispute resolution 

• Asset distribution 

• Monthly beneficiary statements 

• Required court accountings 

• Post mortem planning 

For more than 160 years. Wells Fargo has helped individuals and families build, manage, 
preserve and transition wealth by providing a wide range of comprehensive trust services 
administered with objectivity and care. 

As you consider the trust solutions available to you. . . 

You've enriched your Hfe and the lives of those around you. Now, as you consider how to 
sustain and transition your wealth to the people and institutions that you care about most, 
you should find a trustee that can deliver personalized trust services for you. 

A personal trust can be an integral part of your total financial life as well as a commitment 
to the future. A personal trust may help: reduce estate taxes; provide for the proper 
distribution of assets to beneficiaries; assist you in the event that you become 
incapacitated; and safeguard your legacy, while preserving your peace of mind. 

Continued on next page 


Bank Services, Continued 

At the heart of it, your personal trust is part of your legacy. You define your goals. 
We'll work with you and your advisors to select trust services that help address those 
goals, through specialized services designed to support your family, transfer assets 
and address your philanthropic and tax-minimization needs. 

Our specialized wealth solutions include a wide variety of services to help you meet 
more complex estate planning needs such as estate settlement, special needs trust or 
multi -generational wealth planning through a legacy trust. 

...selecting the right trustee may be your most important decision 

Your trustee has the legal authority and fiduciary duty to manage the assets in your 
trust on your behalf. Family and friends are often ill-prepared or unwilling to take on 
this responsibility, which is one major reason why so many choose a corporate 

Wells Fargo has served as a corporate trustee for more than a hundred years, and has 
the objectivity and knowledge to help safeguard your interests. We have the 
experience and resources to administer your trust in compliance with state and 
federal regulations. 

Wells Fargo offers a full range of trustee services 

The trustee services available at Wells Fargo Private Bank have been designed to 
address a wide range of needs. 

We can handle your trust administration and accounting, custody services and tax 
reporting. Our professional investment management services can help you grow the 
investments in your trust. We can also manage real estate assets held in trust, as well 
as specialty assets like oil and gas. 

Our commitment to you 

When you place your trust at Wells Fargo, you place your trust in Wells Fargo. 

In return, we give you our commitment to help you and your advisors select trust 
solutions customized to meet your unique circumstances. 

And we give you our commitment to always act in your best interest, with unbiased, 
prudent and comprehensive trust management dedicated to fulfilling your legacy. 

High-End Credit Cards 


The Merrill Accolades American Express Card, formerly the Bank of America 
Accolades American Express card, is available only to select clients of the Merrill 
Lynch Wealth Management division, a part of Bank of America. 

The Merrill Accolades card boasts a black design, with the customary Merrill Lynch 
bull logo. However, the card comes with a relatively low annual fee of just $295, 
cheaper than many high-tier airline credit cards. 

Benefits of the Merrill Accolades card include premium concierge service, hotel 
discounts and upgrades, complimentary credits and amenities on select resort and cruise 
programs, discounts through Virgin Atlantic Airways, discounts and complimentary 
credits toward Sentient Jet private jet membership, an extensive rewards program, and 



The Citigroup Chairman American Express Card is another distinguished credit card 
known to be available only to a small group of clients of Citi's private bank and 
investment units. 

The card touts a black design to match its prestige, but it isn't made of any special 
materials like some other elite credit cards out there. It has an annual fee of $500 with 
no preset spending hmit. 

The Citigroup Chairman American Express Card offers a 24/7 personal concierge, a 
travel rewards program, complimentary lounge access, statement credits for flight- and 
in-flight-related expenses, access and opportunities to 


Stratus The Stratus Rewards Visa card is a highly exclusive credit card that is often dubbed the 

Rewards Visa "White Card," in contrast to the American Express "Black Card." The card is available 

only by invitation through a current card member or Stratus Rewards partner company. 

The target audience for this card is high-net- worth consumers who must have private jet 


Continued on next page 


High-End Credit Cards, Continued 

Stratus The Stratus Rewards Visa card has an annual fee of $1,500. The card's loyalty program 

Rewards Visa revolves around private jet travel as a redeemable reward. Card members can pool their 
(continued) earned points with friends and other members to redeem for flight hours on private jets, 

available through MarquisJet. 

Other perks include personal concierge services, quarterly award- show- style gifts and 
trend-setting items, discounted charter flights, complimentary car service, upgrades and 
special amenities at luxury hotels, upscale merchandise discounts and more. With a 
Stratus Rewards Visa card, cardmembers can also redeem their points for consultation 
with lifestyle experts and personalities. 

Read more; 
20 1 3/# l#ixzz2pkTQGNms 

JP Morgan The JPMorgan Palladium card is an exclusive offering for the wealthiest of JPMorgan 

Palladium Chase clients. It's available only to customers with private bankers, who are assigned to 

them when they become clients of JPMorgan' s high-net worth banking units. Chase 
Private Client, for instance, requires customers to have $250,000 or more in investable 

The Palladium card has an annual fee of $595 and all other typical credit card transaction 
fees are waived. There is no preset spending limit. The card is made a palladium, a rare 
metal that belongs in the family of platinum metals, and 23-karat gold with logos, names 
and dates etched in by laser. Since the card alone is of such value, cardmembers also 
receive a plastic version of the Palladium card. 

Features of the Palladium card include top tier concierge, unlimited complimentary 
access to more than 600 airport lounges worldwide, access to MarquisJet (world's largest 
fleet of private jets), a travel rewards program, complimentary first-class upgrades and 
companion tickets through British Airways and more. 

20 1 3/# l#ixzz2pkTw7ru7 




American Express Centurion card, also dubbed "The Black Card," is the most well- 
known exclusive credit card out there. With a $5,000 one-time initiation fee and $2,500 
annual fee, you'll need deep pockets for the privilege of having this card. Cardmembers 
have no preset spending limit. 

Continued on next page 

High-End Credit Cards, Continued 





The card itself is made of titanium that is noticeably different from the plastic used in 
most credit cards. Flash a Centurion card at the counter and watch the store cashier's 
eyes light up. 

wealthv-20 1 3/# 1 #ixzz2pkUDw9ut 

Card members must be invited to apply for the Centurion card and you'll need to show 
that you have a six-figure annual spending rate ($250,000). Centurion cardmembers 
have been invited to get the card because they spent enough on their American Express 
Platinum Cards, which carry a lower annual fee of $450. 

Recognized all around the world, the card's features include a dedicated concierge, 
complimentary companion airline tickets, access to airport lounges, flight upgrades, 
complimentary hotel nights, personal shoppers at luxury retailers and much more. 
Centurion cardmembers have been known to shut down entire stores just so they can 
shop alone. 



Non-Disclosure Agreements 

Sample l found this PDF online and wanted to share it with the group. Perhaps we are taking this entire 
subject TOO far with all the scare tactics and misinformation circulating in DinarNation. 
Contracts in general are not legal if it's one-sided. 


I, ^ ^ , an iuUvMkul official, employee, cfinlUnt, < 

.(Ibc Autborizod Eabty). inteadi^K «o be leg»HybOMl » J . l lcir dby«OltllttO<fac< 

A9««incnt in oonsideratian at my b«iag granted coaditicaal acccaa to 
by. produced Iqr. or in tiie possession of the UoiledSMca 

Protectecl Critical Infrastructure Information (PCII) 

1 attest thA I am familiar with, and I wi 11 comply with all rc<|uinrmcnts of the PCII pioj^ram set out in the Ciitical 
fam— tiuHurc Infinrnitioa Act of2002 (CD Act) (Titfe II, Swbtitk;B. of the HooMlMdSeosrilr Act ef 2002. Public Laiw 
10T-3M^ 1968IM. 213S.6U8C lOl «t acij.), ammdr i l. the implqnicating rr»il»rico« Hwreto (6 CFR Fwt 29^ — 

CHProccdi«CT M m bmV — i wmdwl. moA witfawgr icfa reqiiire»nea<» tbmt amy f» 
edto me ty the PCH r tvy wii 1 li l wi>» i «r PCP F w i p mm ttt mm m i <" 

I aMieat that I am flmiUar with, and I win ccmply witb the staodUada Ibracoeaa. diaiamnt naticai, handtiag. and 
safcyuacdins of SSI in lia uni on as cited in this Agicemoit and in aoconlaacc with 49 CFR Part 1520, "Protect 
Seoaitive Secudty faitaniMioik~ "Vioiiciea and IVoccdUica for Sufb^uHBd^ 

L tgr an MilbociBBd cflBctel oCibc Department 

OtlMT SanaMve but Unclaaaifiad (8BU) 

As used in this Agiecmcnt, sensitive but indassitfied infonnatiGn is an ovcr-ardiii^ tcmi that covcss any inlbmiaticn, 
not otfaerwise indicated above, which the loss of misuse of, or tnaiafaorized access to or modifieiUion of could adveac(|)r 
ailiDct the national i n terca t or tlic conduct of Fcdcoi pro^wam, or the privacy to wfaidi individuals arc entitled under 
Secti(MiSS2a of Title S. ag Mncodcd. but iihicfa has not been ipecificallyudtociacd tauter criteria ealabliilied by an 
Executive Order or an Ac* of Cotvreaa to be kept aecTCtta Ha tuU ill ifiliniail def e ns e or foreign policy. This 
includes information ca teg crized by DHS or other co-v^ernmcnt a^encieaaa: Fcr Official Use Only <FOlTO>: Official Uac 
Only (OUO); S<-nsiti%'c Homeland Soci«-ity Informiituim ( SHSl I; Umited Official Use (L.Ol J I; Law Knt, .rc L-mL-nt 
Sensitive CLESX Safegiaidiiig Infcnnation ^Cil); Unclassified ConUDOed Nuclear kiformation CUCNl); and ajqr 

laMeattfaatlani frmiharwitfa, andl winoomplywitfatfiestaadanlaftr* _ 
aafesmidiagcf the infoimaticn to which i -™ r-"'"* -— A i» — M« ih» 

giiidanrf provided to me relative to tbeapecjficcat^gciy 4 

ootifidcncc and tmatlaa 
granted jicvxriA. 

3. latest t)i3t t mvderstjaid my reaponsiMlities and that lam fiinuiiar with and wil comply wilhllwalmdafds fori 
information that I may have acce« to in aocoadince with the termg oftliia Agiimiiwaa and die I 
ai3f>licalila to 4ia apaciflc caiagorias oflnformation to which 1 am gnmadaCQMa. 1 1 
may condnot aupacliaai^ laaoytiine or place, for the purpose of « 
Lng and aafTinnrnfinii ipfcmauaoo ooder thta Ajyeen 

Non-Disclosure Agreements, Continued 

To Sign or Not You decide which is best for you. 
to Sign 


By operation of federal law, beginning January 1, 2013, funds deposited in a 
noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) 
no longer will receive unlimited deposit insurance coverage by the Federal Deposit 
Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor's accounts 
at an insured depository institution, including all noninterest-bearing transaction 
accounts, will be insured by the FDIC up to the standard maximum deposit insurance 
amount ($250,000), for each deposit insurance ownership category. 

For more information about FDIC insurance coverage of noninterest-bearing transaction 
accounts, visit 

To Sign Signing the NDA is required in order to get the contract rate. 

It is VERY important to sign the NDA if you don't want the banks to risk LOSING your 
money when they play their "games" with it. They offer interest in EXCHANGE for 
their ability to LEVERAGE your deposits. 

Not to Sign The insurance would never cover all of the deposit accounts. There simply isn't enough 
coverage available. They have up to 99 years to repay lost/stolen money. 

New As of the week of February 10, 2014, there are currently three cash exchange options. 

Developments j^i^ f^^^^ option is the street rate of somewhere around $4 and requires no NDA and is 
not subjected to taxes. The second option is the contract rate of somewhere around $15 
It is subject to and NDA and it is subject to 50% taxes on the income from your capital 
gains. The third option is the highest rate of somewhere around $32. It is subject to an 
NDA and is subject to 100% taxes on the income from your capital gains. 

It is important to remember that definite rates have not been released. That is why 
"somewhere around" is used each time. Additionally, terminology is everything. Be 
sure to use the term "investment" as opposed to the term "income". It could be the 
difference in the tax rate you pay. 

-41 - 

Managing Your Wealth 

You will need to engage professionals who can help you manage your new wealth. 
The bank has private bankers who can navigate you through the process. Other 
professionals include: 

• Wealth Manager 

• CPA 

• Tax Attorney 

It is highly advised that you use multiple banks. There are insurance limitations and 
the perks vary depending on the financial institution. Decide how much Dinar you 
will be exchanging at one institution, and have all your documentation on hand. I 
plan on the bank person signing his/her name/date/name of bank on each receipt at 
time of deposit to keep for tax records along with proof of deposit. 

Account Setup new "holding" accounts to accept either an on-site CURRENCY 

Security EXCHANGE or to accept wires from reserve dealers or both. 

Each foreign currency will be deposited into it's own "new" clean account. Next 
the funds are "Swept" from account #1 to the second "Holding" account... then the 1st 
account is closed immediately to prevent charge backs, hacking or other frauds. ..this 
adds an additional layer of privacy and security. 

The other reason you are doing this is that the bank is required to report the opening 
of Account #1 to the federal government and that information can find its way into 
the public domain; however, the bank is NOT required to report intra-bank transfers 
between accounts. What this does is effectively eliminate your digital trail so that 
nobody outside of the bank knows how much money you have on deposit and, more 
importantly, whether or not you are a good target for cyber hijacking of your money. 

For additional privacy/security flag all accounts as "access restricted to non- 
essential bank personnel " and tagged as "Non-test/Non-Training" Accounts to 

prevent banks from using your accounts for new staffs training purposes where funds 
can get lost. 

Next, open up a 3rd account for each currency and sweep 55% (projected state 
and fed tax) into new tax escrow account. Pay state taxes to get the fed tax 
deduction for 2013 and 11% of fed tax. We don't know what the tax on the dinar 
will be yet as supposedly there is a bill in congress to make the tax for the dinar 11%. 
Under current 2013 tax law anything in excess of $200 from a foreign currency 
exchange is considered Capital Gains tax. 43.4% for short term and 23.8% for long 


Your Accounts 

Continued on next page 

Managing Your Wealth, Continued 

Account tenn. Talk to a good tax attorney first to work out how much taxes to pay as there are 

Security tax-free investments available to help defer taxes owed (i.e. tax-free annuities, T- 

(continued) Bills, municipal-bonds). 

Alaska, Washington, Florida, Texas, Wyoming, Tennessee and Nevada have no state 
income tax. 

Add a P.O.D. (Pay on Death) clause to each account and signature card. You 

will need to name/designate a person that can access that money if you're dead 
without the state probate interference. This is considered a "poor man's" trust where 
you can list your beneficiaries on the account and upon your death funds go directly 
to your beneficiaries without having to go through probate. 

Use cashier checks from account #2 to diversify funds by spreading deposits 
equally over a couple, several or many different banks, credit unions and 
investment vehicles to manage risk. Negotiate third-party deposit insurance on all 
balances at every deposit location and account... maybe the bank will pay the 
premium? It's an insurance policy premium based of the banks credibility and 

Eventually all holding accounts will likely be in the trust's or LLC's name (not yours) 
with you or an appointee as the trustee/manager. 

For liquidity put money into a MCA (multi-currency account) i.e. Canadian dollar, 
Brazilian real BRL, Singapore dollar, Australian dollar, Swiss franc, Hong Kong 
dollar, IQN, Great British pound or foreign currency of a country you travel too. You 
can get a credit card for travel while having currency available where you travel to. 
HSBC is an international bank that may be a good choice to set up a MCA with. Or 
get hold of hard currency you can keep in a personal safe along with your gold. 

Set up a secret verbal password that only you and your private banker know. You 
will use this password to do remote banking by phone when needed.. .like lifting a 
spending limit on debit cards or secure transfers of funds for purchases or 

Any funds in bank accounts over 250k need to have additional insurance. For 
example, Lloyds of London does not cover checking accounts but do for other 
things - Abbott Downing with WF for accounts with over 50M$. Consider 
immediately insuring funds in your accounts until you transfer them over to other 
investment vehicles. 

Continued on next page 

-43 - 

Managing Your Wealth, Continued 

Annuities Here is a website that is a good start to get annuities quotes based on the dollar 

amount you want to invest and the type of annuity you are interested in. It is a good 
place to start but please work with qualified Financial planning professionals when 
you are ready to implement a plan. 

http ://w w w . immediateannuities .com 

Get info on these: 

• Deferred Annuities 

• Deferred Income Annuities 

• "Fixed" Index Annuities 

• Immediate Annuities 

• Longevity Annuities 

• Secondary Market Annuities is the website of Hersh Stem, founder of one of the 
nation's leading online annuity brokerage firms. 

Setup accounts with limits for your protection. Example: $5000 debit card, 
$25000 credit, etc. this too is a safety measure and can be modified at will. 

Insurance Obtain extra insurance for Trust Accounts. Bank to provide and pay for insurance 

to cover all account balances Lloyds of London / Burkshire /Hathaway / Prudential 
insure accounts up to a billion dollars per EiN through SIPC / MA DIF, 
Massachusetts' Depositors Insurance Fund (DIF) ) 

Abbott Downing with WF for accounts with over 25M$ book of checks (at least 
10) to have with me when I leave Bank perks? privileged ATM card / NOT RFID- 
enabled credit/debit card $10,000 cash in $50 bills (if available) / Pre-paid Visa/MC 
gift cards gold/silver coins/bars if available. 

"Proof of Funds Letter(s)" (for each property or new vehicle to be purchased) from 
the bank to show to realtors/car dealer and/or 10-20 CCCs if still applicable obtain 
copy of NDA & write "All Rights Reserved" over signature and any other 
document / have banker sign my NDA and/or PA - privacy agreement (if you have 
one) get copies of deposit receipts / transactions with all accounts / copy of NDA 

Continued on next page 

Managing Your Wealth, Continued 

Spread Fees When it comes to foreign currencies, Bank Personnel will always tell you "We will not 
charge you a fee if you have an account with us" but that isn't exactly the entire truth, 
because Banks actually have two (2) levels of fees they charge for services rendered. 

These 2 fees are: 

1) - Fees charged to the Public who do not have an account. 

2) - Fees charged to their Customers who do have an account. 

Customers DO NOT have to pay the fees that the PubUc pay, whereas the Public has to 
pay BOTH the Public fees and Customer fees. Some of the fees Customers are accustom 

to not being charged are for services like obtaining a Bank-drafted Money Order or 
Cashier Check, free use of the Bank's Notary to validate documents, cashing of a 
paycheck or government check, etc. All of these 'services' have a fee to the general 
PubUc because they are not an account holder. However, when it comes to something 
like exchanging currency from foreign country into US Dollars, the Public is charged the 
Service Fee of around $15 as well as the Spread Fee on each unit of the currency 
exchanged. When Bank Personnel tell you "We will not charge you a fee if you have an 
account with us" they are talking about that $15 service fee only. 

What is a spread fee? 

A spread fee is a fee the Bank will charge you to exchange another country's currency 
into the currency used in the country in which you are located. For these examples, we 
will use the US Dollar (USD) as the currency and USA as the Country in which you are 
located, and the Kuwaiti Dinar (KWD) as the foreign currency being exchanged for US 
Dollars at a US Bank. 

In the US, the KWD is considered to be an "Exotic Currency" just as is the Iraqi Dinar 
(IQN), whereas currencies such as the Canadian Dollar (CAD) are considered to be a 
"Popular Currency" and the spread fees reflect the difference on these two currency 
classifications greatly. For this explanation, one CAD dollar (as listed at 
will be valued at $1.02015/ USD, and the KWD will be valued at $3.59712/USD. 

Using the Wells Fargo Bank Web site currency chart at (Click on "ORDER FOREIGN 
CURRENCY then click on the TODAY'S RATES Tab to access the rates page and 
charts) we can see that they will 'sell to you' CAD and KWD (Click on the ALL 
CURRENCIES Tab to see the KWD), and it is easy to calculate what the spread fees are 
using this page and comparing the rates to the actual value of the currencies shown at: 

Continued on next page 

-45 - 

Managing Your Wealth, Continued 

Spread Fees Again, for this example, one CAD dollar (as listed at is valued at $1.02015 USD, 
(continued) ^nd the KWD is valued at $3.59712 USD, and on the Wells Fargo chart these two currencies 

are listed at what they will sell them to you at; 1- CAD at $1.0232 USD and 

1- KWD at $4.0846 USD 

1- CAD at $1.0232 USD minus $1.02015 USD (actual value) = $0.00305 USD (Spread Fee) 
1- KWD at $4.0846 USD minus $3.59712 USD (actual value) = $0.48748 USD (Spread Fee) 

See the difference? 

Wells Fargo will charge you $0,003 US-Cents (under 1/3 of a US-Cent) to buy 1 -Canadian 
Dollar from them, but will charge you $0.49 US-Cents to buy 1 -Kuwait Dinar. 

At smaller State or Regional Banks, these Spread Fees are even greater; for example, when 
the First Convenience Bank in Texas were buying and selling the KWD currency the spread 
fee they were charging was about $0.60 US-Cents to both Buy and Sell the KWD through 
them, and the spread fee they were charging was about $0.06 US-Cents to both Buy and Sell 
the CAD through them. This is part of the reason you want to deal with the Big-4 Banks 
instead of the smaller or State-only banks. The Big-4 Banks are Bank of America (BOA), 
J.P. Morgan Chase (Chase), Wells Fargo (WF), and Citibank (Citi). 

Upon revaluation of the IQN most expect the value will be close to the KWD, so let's start 
doing some math with the Wells Fargo $0.48748 US-Cent Spread Fee and for example 
purposes let's say that 1- IQN revalues at $3.60 USD. If you have 100,000 IQN, to exchange 
that many IQN with a spread fee of $0.48748 US-Cents per 1-IQN you would be paying 
$48,748.00 to Wells Fargo to change your IQN into USD 

100,000 X $3.60 = $360,000.00 (Nice Profit for You!) 
100,000 X $0.48748 = $48,748.00 (Nasty Bank Fees!) 

You receive $31 1,252.00 after paying the Bank's Spread Fees. This is also the number you 
will be taxed on. 

NOTE: None of this is held as secret from the public, except when or if any one given 
Bank Manager decides to keep it a secret from you. It is these 'Spread Fees' that you 
can get some Banks to forgive or cancel - But only if you ask them to forgive them. 

NOTE: The United States Treasury (UST) also charges a spread fee on foreign currency 
exchanges done at all Banks, and Banks CAN NOT forgive or cancel the UST spread fee. 
The UST spread fees are between 1% and 1.4% - That equals between $0,036 cents and 
$0.0504 cents using the $3.60 IQN example above. 

Continued on next page 

Managing Your Wealth, Continued 

Spread Fees At $3.60 per 1-IQN, 100,000 IQN = $360,000.00 X $0,036 (1%) = $3,600.00 (UST 
(continued) Spread Fees) 

At $3.60 per 1-IQN, 100,000 IQN = $360,000.00 X $0.0504 (1.4%) = $5,040.00 (UST 
Spread Fees) 

That is certainly a lot easier to swallow than paying almost $50,000 in Bank's Spread 
Fees. This is where we want to save. Taxes are inevitable, so do not try to circumvent 
the taxes, look to reduce the spread fees that banks charge. This is where you will save 

Educating Yourself Here are some suggested books from the TNT Dinar forum: 


Book Title 

David K Williams 

7 Non-Negotiables of Winning 

R. Nelson Nash 

Becoming Your Own Banker 

John Perkins 

Confessions Of An Economic Hitman 

Debbie Ford 


G. Edward Griffin 

Creature from Jekyll Island 

Unable to locate 

Love, Love, Love Power vs. Force 

T. Harv Eker 

Secrets of the Millionaire Mind 

Susan Bradley 

Sudden Wealth 

Sandy Franks 

The Barbarians of Wealth 

Sara Nunnally 

Gay Hendricks 

The Big Leap 

Willem Middelkoop 

The Big Reset: War on Gold and the Financial Endgame 

The Commodity Discovery Fund 

Eric Ries 

The Lean Startup 

Todd Ganos 

What Are The Wealthiest Families Doing About Asset Protection? 

Spencer Johnson 

Who Moved My Cheese? 

Robert Pagliarini 

Why Lottery Winners Crash After A Big Win 

Chris Prentiss 

Zen and the Art of Happiness 

-47 - 

Six Asset Protection Strategies to Shield Your Wealth 

Have you heard of the homeless man who was sued for $5.5 milUon? Of course you haven't. 
Lawsuits aren't filed against those with few assets; they are filed against those with "deep pockets." 
If you have substantial assets or are coming into a windfall from a sudden wealth event such as an 
inheritance, lawsuit, stock options sale, business sale or from a sports/entertainment contract, there 
are several money moves you should consider to best protect your new wealth against lawsuits and 
from others. 

Increase your 



Your first line of defense in litigation should be insurance. Call your insurance broker 
and increase your liability limits. Make sure your personal umbrella liability 
coverage is for an amount at least equal to your new net-worth. For example, if you 
are going to receive $3 million from your Aunt Jane's estate, tell your insurance 
broker that you want a $3 million umbrella liability policy. Rates are inexpensive - 
often $200 or $300 per $1 million of coverage. Bruce Givner, a Los Angeles tax 
attorney, recommends that his clients have a minimum of a $5,000,000 umbrella 
policy, and most of them opt for $10,000,000. 

Tip; It's best to make this five minute phone call before you receive the inheritance 
or windfall. Why Lottery Winners Crash After A Big Win Robert Pagliarini. What 
Are The Wealthiest Families Doing About Asset Protection? Part I Todd Ganos. 

Consider Depending on the state in which you live and the source of your windfall, if you 

keeping assets deposit the money into a joint account with your spouse, this money could instantly 
separate become half theirs. For some, this isn't an issue, but for others, this could pose a 

problem. For example, if you have children from a previous marriage and commingle 
an inheritance you receive with your new spouse, your children may get less than you 
expect when you pass away. This problem becomes even more damaging if you are 
contemplating a divorce. 

Tip; If you don't want your spouse to have ownership of your windfall, talk to an 
attorney and keep the assets in a separate account. 

Protect If you have rental property or expect to invest in rental property after receiving your 

yourself from sudden wealth, create a business entity such as an LLC or corporation to shield your 
other assets from a disgruntled tenant. By doing this, if your renter sues you for $5 
million, they can attack the assets in the entity that holds the real estate but the rest of 
your personal assets are protected. 

Tip; Create a separate business entity for each rental property or consider a Nevada or 
Delaware Series LLC, which is designed to protect each property within a single LLC. 

Continued on next page 

Six Asset Protection Strategies to Shield Your Wealth, Continued 

Review all 
jointly held 

Any money you deposit into a joint account with your children, elderly parents, 
roommate, or business partner is at risk. If the joint owner files for divorce, incurs a 
tax lien, or lawsuit judgment, the entire account could be wiped out. 

Tip: If there is a need for a joint account, keep the balance as low as possible. 




Business partnerships are ticking time bombs. Why? Just like joint accounts, you are 
responsible for the actions of your partner. But unlike a joint account, a lawsuit 
against your partner can put all of your assets at risk. For example, suppose you and a 
friend have an informal agreement to partner and provide consulting services. If your 
partner is involved in an accident on the way to a client, your personal assets can be in 

Tip: Avoid partnerships. Form an entity such as an LLC or corporation to provide you 
with legal protection. 

entities to 
shield assets 

If you have a small business or do part-time work on the side without having a formal 
business structure such as an LLC or a corporation, you are operating as a sole 
proprietorship. The "sole" means it's just you, so unlike a partnership, you don't have 
to worry about a partner's actions . . . but all of your personal assets are at risk if you 
are sued. 

Tip: Create a business entity that shields your personal assets from lawsuits against 
your company. 

Resource Sudden wealth can be a life-changing experience that can improve your life and the 

lives of those around you, but only if you keep it. Those with more assets are bigger 
targets for lawsuits. Don't let your sudden wealth suddenly get stripped from you. 
Protect your assets before you get the windfall and you will sleep a little easier 
knowing your assets are better shielded. 


Questions to Ask Wealth Advisors 

What to Ask Choose the questions that are most relevant for your situation 

When interviewing a wealth advisor , it is important to ask the right questions and 
know how to interpret the answers. Here are select questions to get you started. I 

In a formal selection process the family should come up with additional relevant 
questions that will isolate important criteria. 

Firm 1. When was the firm founded? 


and Ownership 2. When did the firm begin providing wealth advisory services? What was the 
impetus behind the creation of the multi-family office business, if applicable? 

3. What is the firm's organizational structure? If family-owned, what is the 
percentage of the family s interest? 

4. What is the firm's ownership structure? If family-owned, what is the percentage 
of the family's interest? 

5. Does the firm develop an annual strategic plan? If so, what are primary initiatives 
for the firm in the next two years? 

6. What is the firm's stated mission? 

7. Is the firm a Registered under the 1940 Act of the Securities and Exchange 
Commission? Please provide a copy of the firm's ADV Parts I & II filed annually 
with the SEC. 

Services l. Describe your expertise in each of the following service areas: 


wealth transfer planning 


financial planning 


foundation and philanthropic planning 


investment management 


performance analysis 


tax planning and tax compliance 


bill paying and cash flow management 

Continued on next page 

Questions to Ask Wealth Advisors, Continued 

Client 1. What are your areas of greatest strength when providing wealth advisory 

Education services? 


2. What new services/service enhancements are you planning to introduce in the 
next year? 

3. What aspects of your business distinguish you from your competition? 

4. Do you work with outside investment consultants to enhance your research? 

Client 1. How many family relationships does your wealth advisory business have? What 

Relationships jj^g distribution of clients by type (business owners, wealth owners, wealth 

inheritors, foundation, etc.)? 

2. How many new clients have you added/lost in each of the past three years? 

3. What percentage of your clients are full-service relationships? What services do 
you typically provide to the clients that don't use your firm for all services? 

4. How do you get new business? Do you have an active new business development 

5. What are current assets under management? 

Discuss the 1. The firm's growth in new assets due to new client business over the past three 
Firm's Level of years 


2. The firm's growth in assets due to new assets from existing clients 

3. The firm's loss of assets due to client attrition in the past three years 

4. Provide references from three clients that have worked with your firm for at least 

three years? 

5. What were the reasons why former clients terminated your services in the past 
three years? 

Client 1 . What kind of client education do you provide? 

Education and 

Research 2. Do you offer formal seminars or other educational opportunities? 

3. Do you publish research or newsletters for your clients benefit? Please include a 
list of research papers distributed to clients with the date of publication. 

Continued on next page 

-51 - 

Questions to Ask Wealth Advisors, Continued 

Employees l. How many employees do you have in each major department? Provide a 
breakdown of employees in the following categories: 

a. senior relationship managers 

b. investment professionals 

c. tax and accounting professionals 

d. philanthropy specialists 

e. information technology professionals 

f. marketing professionals 

g. operational/back-office personnel 

h. administrative staff 

2. How is the typical relationship management team structured? And how is 
technical expertise provided to support the relationship team? 

3. How are the relationship managers compensated? If they are paid incentive 
compensation, what is that based upon? Do they share in firm profits? 

4. What is the tj^ical account load for a relationship manager? 

5. Please provide the biographies for senior management and key personnel who 
would service my account. 

6. Provide the number of employee hires and terminations/resignations for the past 
three years. 

Client Servicing 
and Reporting 

1. How do you most frequently communicate with clients? 

2. Do you have regularly scheduled client meetings? If so, what is the frequency and 
who typically represents the firm? 

3. How do you interact with the clients' other key advisors? 

4. Do you provide electronic versions of client reports? Do clients have on-line 
access to their reports? 

Continued on next page 

Questions to Ask Wealth Advisors, Continued 


Pricing and 1. Do you have a published fee schedule? If so, please provide. If not, please 
describe how you determine a fee for a new client. 

2. Is there a minimum account size or minimum fee requirement? 

3. How does the fee structure differ for different client tj^es? 

4. Do you offer any performance-based fees? As an alternative to basis points? 

5. Do you accept soft dollars from any product providers? 

6. Do you accept fees of any other t5^e of service providers? If so, under what 

-53 - 

Account Security & Growth 

After your funds are transferred to an account you designate, consider moving them again within a 
short time to a new account with a different number so that the original transferring agency will not 
know your new account number for greater security while you are deciding what to do with your 
funds long term. 

If you plan on keeping your financial records on a computer think about buying a new one that 
never gets connected to the internet. Then your information can not get hacked and your passwords 
are safe. 

Do as much business as you can personally reducing the risk of your information getting into the 
wrong hands by doing business online. 

Protection Electronic ID theft video you should watch 


Patriot Safe Company 

Discount Safe Company 

888.954.99004 Check the financial health of your bank/financial institution aspx?ic_id=br3int_popup&location=CDsandInv 

Lloyd's of Since its beginnings in the 17th century, Lloyd's of London has been a world leader 

London insurance markets, providing its services to businesses in a broad range of sectors. 

Currently, Standard & Poor's and Fitch Ratings have rated Lloyd's credit as "A+ 

(Strong) Stable Outlook." 

For more information about Lloyd's of London, please visit 

Continued on next page 

Account Security & Growth, Continued 

How do I get a quote from Lloyd's or find a Lloyd's agent? 

You'll need to go through an independent agent or broker. Lloyd's does not deal 
directly with policyholders. Here are some helpful links. 
Independent Insurance Agents and Brokers Association 
National Association of Professional Surplus Lines Offices 
Insurance Journal specialty markets directory 

What does Lloyd's insure? Can Lloyd's write insurance in my state? 

Underwriters at Lloyd's insure nearly every class of business in the US, except life, 
workers comp, and financial guarantees. Underwriters at Lloyd's are authorized 
surplus lines insurers in every state except Kentucky, and admitted insurers in 
Illinois and Kentucky and The USVI. 

Hank Watkins, President, Lloyd's North America 

Hank is responsible for the Lloyd's operations in Atlanta, Boston, Chicago, 
Frankfort KY, Los Angeles, New York, the U.S. Virgin Islands and Canada. 

In addition to ensuring regulatory compliance in the U.S. and Canada, his colleagues 
are actively engaged in educational and marketing outreach to retail, wholesale and 
reinsurance intermediaries, managing general agents, risk management programs at 
colleges & universities and the many other stakeholders in the Lloyd's market. 

Hank Watkins Hank Watkins, President, Lloyd's North America is responsible for the Lloyd's 

operations in Atlanta, Boston, Chicago, Frankfort KY, Los Angeles, New York, the 
U.S. Virgin Islands and Canada. 

In addition to ensuring regulatory compliance in the U.S. and Canada, his colleagues 
are actively engaged in educational and marketing outreach to retail, wholesale and 
reinsurance intermediaries, managing general agents, risk management programs at 
colleges & universities and the many other stakeholders in the Lloyd's market. 

He has 30 years of experience in the insurance industry and has held a range of 
underwriting, client management and leadership positions in the United States and 
Europe at Chubb, Barney & Barney, Johnson & Higgins, Marsh and HRH. 

Hank received his BA from the University of California, Berkeley and has 
completed an executive leadership program at The Wharton School. He's a member 
of the Board of Overseers at St. John's University's School of Risk Management, 
Insurance and Actuarial Science and is on the boards of British American Business, 
the Insurance Industry Charitable Foundation, NY/Northeast Division and the 
International Insurance Society. 

Continued on next page 

Lloyd's of 


-55 - 

Account Security & Growth, Continued 

Hank Watkins Contact details for Hank Watkins, President, Lloyd's America Inc. 
(continued) j. +i 212 382 4060 

f: +1 212 382 4070 

hank, watkins @ 

Lloyd's America Inc 

The Museum Office Building 

25 West 53rd Street - 14th Floor 

New York, NY 10019 

Insurance Read more: 6 ways to insure excess deposits 

depo sit s . aspx#ixzz 1 pO JhaEdT 

Personal Coverage amounts are written in increments of $1 million and supplement your 

Liability present policies to provide additional personal liability protection 

Umbrella Find And Agent 

Irrevocable Life Crummey Letter for Irrevocable Gifting Trusts or Irrevocable Life Insurance Trusts 



For those who have utilized Lrevocable Gifting Trusts or krevocable Life Insurance 
Trusts, a Crummey Letter is required each year for purposes of gifting. If this letter is not 
put in place, the annual exclusion (now $13,000) is not available for the amounts gifted. It 
is a technicality that many fail to satisfy. 

Bank Health Check out for more info on bank health. ratings. asp 

Continued on next page 

Account Security & Growth, Continued 

CD Investing Best CD Investing Rates: 
http ://w w w .bromoney .com/category/s avings -rates 

2012 Top Brokers By State 

The Sovereign The Sovereign Society is based in Delray Beach Florida and created by Bob Bauman, an 
Society ex-Senator who did not like what he saw going on in Washington DC. 

They run events several times a year. I attended a 5 day event in Cancun several 
years ago. The focus is WEALTH PRESERVATION & GROWTH, LEGALLY, and 
how to Transform Yourself into a "Sovereign Person". Experts from all over the world 
were there to impart their knowledge and explain how WE can attain Sovereignty and 
protect our wealth, legally. They are available to members and also contribute to 
programs run by The organization. 

I suggest subscribing to the newsletters of interest to you, and, perhaps subscribing 
to or purchasing some of the excellent books and programs available. 


Research and 



This is a great free too to search and research banks and credit unions by Name, State, 
Ranking and Zip. Review the MEMO as opposed to the statement when reviewing their 
6 Ways to Insure Excess Accounts 


World's 50 Safest Banks: http ://w w w . gfmag .com/tools/best-banks/ 1 2326- worlds-50- 

Barron's 2013 List of Top Financial Advisors - BY STATE 
Choose "MAKE A SELECTION" to search by state 

Barron's 2013 List of Top 100 Female Financial Advisors 

http ://online 1 3 


Continued on next page 

Account Security & Growth, Continued 

Private Banking Wells/ Abbot: 
and Wealth 


TD Bank: 

Chase: client/banking-investments. htm 
Fifth Third Bank https ://w w w . 5 3 .com/private-bank/? 

Ascent: and 

SunTrust Bank: 


BNY: . html 


Northern Trust: 

Computer Safety 

Your New There are hundreds of computer vendors available. You must always fortify your system of 
Laptop choice with top-of-the-line security software. 

Tips & 1. Always backup your PC to an outboard hard drive frequently. Keep that drive in a 

Strategies secure place in case your PC is stolen, crashes, etc. 

2. Do not send email using Outlook or similar products. It is easily hacked. 

3. Do use an anonymous email address. They do not send email to your normal email 
address. All email is security maintained behind private access secure servers. 
These are most often obtainable from your email provider. Mine provide five 
anonymous addresses at no charge. 

4. You could use your regular email system to send and receive email such as Outlook 
if you use encryption between you and your receiver but that process is a pain as it 
must set for you and everyone you communicate with individually on a case by case 
basis. Not a recommended way to go. 

5. Do not use wireless at home unless you have set up a secure connection between 
your wireless device (iPad, phone, etc) and your router. If it not secure, it is easily 

6. Never use wireless on an open wireless system such as you might find in a coffee 
shop. It is not secure and therefore easily hacked. 

7. Do use only a "hard wire" connection. 

8. Do use a VPN (Virtual Private Network). And use a reputable certificate authority. 
This technique is used by most companies that allow employees to work from home, 
connecting the company's computer. A suggestion to obtain these is a website 
CNET.COM. CNET will show you their reviews, number of downloads. (Search 
their site for "VPN" - suggestions are "Free VPN" or "Hotspot Shied"). Many 
downloads are free. Certificate authorization providers are usually a fee for service 
and must be renewed periodically. Pay for them. Search the web for them. Or go to 
a secure site to check theirs. If secure the web address will start with HTTPS rather 
than HTTP. To check what they are using, right click on the lock icon in the address 
line. That will tell the encryption level (minimum of 128-bit encryption and a 
connection using TLS 1.0) and certificate provider. Try using your bank address. 
Their choice of certificate provider is usually a good one to choose. 

9. Note that Google Chrome in a frequently monitored by the three letter government 
agencies. Use another browser (Firefox is an example). Internet Explorer is so 
popular it is a favorite of hackers. 

10. Consider using LifeLock. It is more the worth the fees. 


Continued on next page 

Computer Safety, Continued 

You will need two pieces of equipment. 

1 . A Router that meets your equipment's specifications 

2. A wireless to Ethernet Bridge also known as a WiFi Media Connector. 




Plug the wireless bridge into your computer and get it to connect to 
the wireless network in range. 


After the wireless bridge is connected to the network, plug the 
Ethernet wire from your computer to the WAN side of your router. 


Connect ALL of your devices to your router. 


Sign up for and utilize a secure VPN service. 

This setup will share the wireless signal from the public wireless Local Area Network 
(LAN) while shielding your computer. All that the public LAN will see is your router as 
a computer. Access any files or anything else on your computer is blocked because the 
router is acting as a firewall. Examples of public WIFI are hotels, libraries, restaurants 
and airports. 

Now, your computer and other devices are safe from prying eyes. To ensure your 
security while on the internet, use an HTTPS connection. The S indicates that you are on 
a secured network. A pad lock icon confirms that you are on a secured network. Don't 
enter any username and passwords or make any purchases without verifying that you 
have a secured connection FIRST. 

While carrying two additional pieces of hardware may be cumbersome, without them 
your system is wide open to all sorts of attacks. Security is not meant to be convenient 
nor easy. If it was convenient or easy everybody would do it. It's your decision to secure 
yourself on an open network or not to secure yourself on said network. 

Best Buy carries both wireless bridges and routers. The Wireless Bridge starts around 
$50 and the Router starts around $50. Remember to only use secure sites when you 
submit usemames and passwords. Routers won't encrypt the data transmitted from your 
computer, you need other software and services for that but it will help to prevent people 
from browsing into your system and using your system. 

Wireless LAN / 
Public WIFI 

The Dangers of Online Internet Banking 

Online internet banking has created a convenient way for us to handle our business without leaving 
our home. There are inherent dangers associated with internet banking. Here are a few things to 
watch out for. 

Hacking Most banks have safeguards against hacking, but your personal computer may not 

have the sophisticated technology that the banks incorporate. If you don't have a good 
spy-ware detection and elimination program installed on your computer then you 
could be advertising your personal information to those who will do harmful things 
with it. Be sure your computer is up to date and safe against hacker attacks. 

One of the lesser thought about dangers is the actual information. Many banks offer 
up to the minute transaction activity, and others don't. It's a slippery slope if we start 
relying on the balance information shown on our internet accounts; we could easily 
overdraft our accounts. Many people will toss out the check registers, and with debit 
cards, this can be very easy to forget to update them if we do keep them. 

Secure Logins You need to make sure that your bank has completely secure log in areas. It's 
unfortunately not uncommon to end up with a virus that redirects browser to a 
mirrored site. These sites can look identical to the banks sites. Many sites that hold 

sensitive information have included extra security measures that are hard to mimic. 
Even though they are hard to mimic they aren't fool proof. Ensure you know the 
banks log in address and that your browser was pointed there before you log in. Also 
keep your virus protection up to date to help avoid this 

Chances are your bank will not ask for secure information through an email. If you 
receive an email from your bank asking you to log in, don't click the link provided in 
the email. Instead open a new browser window and log in to your banking account 
that way. One of the easiest ways for your information to be compromised is to click a 
link and enter your information on a site that looks like your banks but actually isn't. 

Continued on next page 

Up- to- Date 


-61 - 

The Dangers of Online Internet Banking, Continued 

Fly by Night 

A simple internet search can reveal thousands of banks you've probably never heard 
of offering high interest rates accounts with very little deposit required. The problem 
with this is that you are putting your personal information, and your money, in 
danger by signing up for these. Be leery of any account offering high interest rates 
and very little customer service. These companies may only exist to steal your 
information, and will disappear when they've done that. 

Usernames and 

It's tempting to use one username and password for all your online accounts, but this 
really isn't smart. If an email account is hacked, then the person who got the 
information now has all the information they need to steal your money from under 
your nose. You need to change your usernames and passwords frequently. 


Read more: 


This is the Exact program ALL the wealthy use. There are 2 videos. This is a very 
simple concept. 

This where you go to purchase the kit. http : //as setfoundation . com/products/ 

Personal Protection & Privacy 

Body Guards The Bodyguard Group 
Security USA Nationwide (866) 482-7380 
Blackwater training and bodyguards 
International Bodyguard Network 615-228-1750 
International Protective Group 16 Penn Plaza, Suite 
1570, New York, NY 10001 Tel: (212) 947-1681 Toll Free: (800) 947-5826 
Fax: (212) 594-0889 

International Protective Service Agency 16 Penn 
Plaza Suite 1570, New York, NY 10001, Phone: 212-947-1681 , 800-947-5826 

Executive Protective Team: 

Phone: (302) 593-1679 (*Delaware) Toll Free: (888)613-3122 Email: 
smg @ 


Protect Your YOUR SECURITY! 


1* Law of The first law of privacy is: Keep one's mouth closed, particularly when one is in 

Privacy public, on the phone, or sending faxes or e-mail. 

In fact, electronic communications are now so vulnerable to interception by 
government agencies, private investigators, and other snoops, that one shouldn't say 
anything in these communications you wouldn't want published on the front page of 
the New York Times or recorded by the IRS. One can now get hacked into from your 
printer. Use separate computers and printers. One for on-line and one for off-line. 

No Flaunting Don't flaunt one's wealth. If you own a fancy home, make sure it looks as modest as 
possible from the outside. Buy cars under $75,000; ok to pay cash for home or 
apartment under 1 mil. 

The IRS regularly searches car-purchase and property records. If they suspect tax 
evasion - real or imagined - they can freeze your assets, and seize your car and home. 

Continued on next page 


Personal Protection & Privacy, Continued 

No Flaunting When traveling overseas, you have to be even more careful. Driving a fancy car or 
(continued) dressing like a "rich" American - i.e., the way you normally dress - can make you a 

target for robbers, kidnappers and anti -American terrorists. Also limit your credit 
card use. Every time you use your credit card, thieves could steal the number and 
rack up huge charges. 

It could take months or even years to get it all sorted out. stick with a car no higher 
than a LEXUS, to 75k, or one's draws serious attention. 

Shred Old Shred or bum important documents. The U.S. Supreme Court has ruled that it's 100% 

Documents legal for snoops to rummage through your curbside trash and keep any papers they 
find - including bank and credit-card statements, utility bills, letters from Social 
Security or other government agencies, information from your stock broker, etc. 

Make sure to use a cross-cut shredder ($100-$150) which reduces documents to 
confetti, rather than a less-expensive shredder that cuts paper into strips which can be 
pasted back together. For ultra-sensitive documents, nothing beats burning them. 

Isolate Isolate sensitive computer files from snoops. As we use our computers more and 

Computer Files more to keep sensitive records and correspondence, it becomes more important to 

protect them from snoops. The #1 threat to your sensitive files is your modem, fax, or 
DSL Internet connection - anj^hing that electronically connects your computer to the 
outside world. 

Thanks to cookies, e-mail wiretaps, and other techniques, when you're browsing the 
web or reading your e-mail, snoops at the other end can download files from your 
computer hard drive. The only sure way to protect yourself is by keeping all 
sensitive information on a different computer (or at least a different hard drive with 
its own, separate operating system) than the computer you use for web browsing. 

In other words, you use Computer #1 to browse the web and send e-mail; and you 
use Computer #2 for word processing, accounting, and storing important information. 
Computer #1 has no important files or sensitive information. 
Computer #2 has no electronic connection to the outside world. To minimize 
expenses, your two computers can share the same keyboard and monitor, by the 
addition of a network hub (about $100). 

Warning : Now as of 1 1/1 1 printers can now be hacked into! ! 

Continued on next page 

Personal Protection & Privacy, Continued 

Keep your web browsing and e-mail private. Whenever you contact a company or 
organization on the Internet, the computer at the other end will often insert a "cookie" 
into your computer - enabling merchants and government agencies to keep track of 
your web browsing. 

The information that can be collected about you in this way is absolutely mind- 
boggling and includes your name, address, phone number, and detailed information 
on the type of computer you are using, your Social Security number, and credit-card 
numbers, a list of your friends and business contacts, and much more. 

Go to page 105 to view private email providers. 

IMPORTANT step you can take to protect your privacy though all items within this 
POST are urgent for your welfare. Government snoops can't nose around your home, 
bug your computer, or listen in on your calls, if they don't know where you live or 
your phone number. 

To keep your home address private, rent or buy your home in the name of an out-of- 
state corporation (Delaware and Nevada corporations are best). Also put your utilities 
in the name of the corporation, as well as your phone, and magazine and newspaper 

This is precisely what TV personalities, professional athletes, and film stars do to 
protect their privacy. And it's not expensive. A Delaware corporation can be set up 
for as little as $150 and maintained for $50 a year! 

Take your names off your local country tax rolls and replace your name with 
"property Owner". This is crucial! ! ! 

Home Phones For a private home phone, use a company name when setting up a new phone 

account, rather than your own, and make sure and get caller ID, complete blocking. 
To add a further level of phone privacy, purchase a prepaid cell phone - such as those 
offered by Trac Fone through Blockbuster, WalMart, and Staples. 

No name, address, credit check, etc. is required to set up an account, and you can buy 
phone cards for cash to add more time. As of 1 1/1 1 WalMart sells iPhones for less 
than $100 and Unlimited internet, text and talk for $55 per month. 

Continued on next page 

Web Browsing 
& Email 

Home Address 


Personal Protection & Privacy, Continued 

Mail Receive all MAIL personally addressed to you at a nearby mail drop, such as Mail 

Boxes, Etc. (about $15 a month), or an Executive Office Service ($50 to $150 a 
month), or at the address of a friend who owns a nearby business (free). Then use this 
address for your driver's license and car registration. 

Vehicles Naturally, your car will also be registered in the name of your corporation. Properly 

set up, a Delaware or Nevada corporation can also dramatically lower your taxes, if 
you're an independent contractor. (Please consult your attorney.) 

Medical Keep your medical records more private. Information in your medical files can be 

Records ^gg^ deny you insurance, jobs, and legal benefits. It could be even used by a 

government entity to take away your children or commit you to a mental hospital. 

Unfortunately, each time you see a doctor or check into a hospital or clinic, they will 
usually demand your Social Security Number, which in turn will be used to file and 
locate your medical records. You can protect yourself from unwanted snooping by 
getting an alternative Medical photo ID from ID Network (IDN). No SSN is required, 
and medical records are kept in your own handwriting. $9.95. Call 1-888-329-3686 
or 314-416-7411 , 

Sample Gift Letter 

Copy and paste this letter into a word document, substituting your details where appropriate. 

I, , do hereby declare under penalties of perjury that the following 

statements are true and correct to the very best of my knowledge. Any and all property of any nature 
that I transfer from my ownership and possession to the recipient of my gift, is intended as a gift. 
I perceive no agreement between myself and the recipient of my gift, and I expect no profit, benefit, 
or opportunity of any nature in consideration of the property that I have been transferred as a gift. I 
believe that I am totally within the law, as it pertains to my activities herein described. 

My intent is to give a gift of ( Iraqi Dinars A^ietnamese Dong to 

) as an individual, and I do not intend the gift as an investment, or as a 

payment for which I am owed of anything of any value or nature, and I acknowledge that my gift 
does not entitle me to any future opportunity or benefit of any nature. I understand that the gifting 
activity accepts only gifts and that they absolutely do not accept any property offered with the intent 
of its owner that a future return or opportunity be obtained or secured by virtue of their having 
transferred said gift to another individual. 

I have agreed under this gift contract to not reassert any rights to the property that I now give freely 
as a gift to another individual. I am fully informed and consenting adult and I have not been misled 
in anyway. 

I do hereby declare under penalties of perjury that the foregoing statement is true and correct, and 
are binding upon me to the full extent expressed therein. 

Executed this day of , 2013 

This currency was purchased by me in of 2013. 


State of ) County of ) 

This instrument was acknowledged before me on (date) by 

(name(s) of signer(s). 

(Signature of Notary) (Seal of Notary) Notary Public - 

State of 



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Lowering Taxes. Educational Gift Giving 

Municipal bonds are bonds issued by state and local government agencies. The 
federal government exempts the interest income from federal income taxes. The idea 
behind this is that since the money from the bond issue is going to fund 

infrastructure or needed government services, the federal government supports the 
state and local government by making the interest income free of federal taxation. 

Tax Free Money 
Market Funds 

Continued on next page 

Investments, Continued 

The tax-free status allows the issuing government agency to borrow money at a 
lower interest rate. Investors buy these tax-free issues because on a tax-equivalent 
basis the returns are at or above the interest rate they would earn on a comparable- 
risk taxable bond. You can use this tax-equivalent yield calculator to compare the 
yield on a municipal bond investment with the yield on a taxable bond investment. 

The federal government encourages state and local governments to invest in public 
projects and services. The issuing agencies benefit by paying lower interest rates, 
and investors get tax-free interest income. In most states, buying municipal bonds 
issued by government agencies in your home state will also exempt the interest 
income from state taxes. (Sometimes called double tax-free bonds) This gets 
municipal investors to invest in bonds issued by government agencies in their state 
of residence because the tax-equivalent yield is even higher. 

CD Rate Find The Best CD Rates 


Great Books 

National Center Of Family Philanthropy 

***This is a great link for info and consults etc in learning about and setting up and 
support for Charitable Foundations.*"^* 

Family Foundation Handbook 
&oi=book result&ct=result&resnum=3&ved=0CCMO6AEwAg#v=onepage&q=familv%2 

The IRS Forms For Non-Profit Status 

Continued on next page 


Tax Free Money 
Market Funds 


Investments, Continued 

Stock Portfolio RAJAF researched each stock but advises that you spend some time looking over the list and 
Options yQ^j. o^/j^ research. Pick out what interests you and check it out in depth. Go for a self- 

controlled portfolio with a brokerage account firm like the Royal Bank of Canada and a 
stock broker and then let the stocks you select ride. Don't sell or buy anything. Dividends 
will be swept into your Money Market Account. 

Stocic Name 



Alliance Data Systems Corporation 



American Express 



Banco Santander 


Bank of Hawaii Corp 



Bank of Montreal NYSE 



Bank of Nova Scotia 



Chevron Corporation 






CORP PIMCO Investment Grade Corporate Bond / Index 



Dominion Resources 



DST Systems, Inc. 



First Energy Corp 



Franklin Biotechnology Discovery Fund Class A 



Franklin Templeton Investment Funds Franklm Growth Senes Class A 



Google Inc 



GW Pharmaceuticals PLC 



Hawaiian Electric Industries, Inc 



International Business Machines Corp 



Intel Corporation 



Johnson & Johnson 



Kinder Morgan Inc 


$ 35.97 

Lockheed Martin, NYSE 






Continued on next page 

Investments, Continued 

Stock Portfolio Options, (continued) 

Stocic Name 









Nextera Energy 






NuStar Energy L.P. NYSE 



Novartis AG 



PepsiCo, Inc. 



Procter & Gamble 



Stratasys, Ltd. (3D printer) 



Target Corporation 



The Home Depot, Inc 



The Walt Disney Company 


$76. 11 

Verizon Communications Inc. 



VMware, Inc. 






Wells Fargo Advantage Discovery Fund Investor Class 



3D Systems Corp 



Voxeljet (3D stock) 


Exone (3D stock) 


First Hawaiian Bank // French owned bank BNP:FP 

€55.68 EUR 

-71 - 

What is a Trust? 

Many people who have Dinar have considered a Trust as a means of protecting or 
distributing funds they receive. There are many types of Trust, some are excellent for 
specific purposes, before you get a Trust (and there are many types all with different 
rules) you need to know exactly what you want to achieve. 

The law of trusts is voluminous and often complicated, but generally it is concerned 
with whether a trust has been created, whether it is a public or private trust, whether it 
is legal, and whether the trustee has lawfully managed the trust and trust property. A 
trust may be created for the financial benefit of the person creating the trust, a 
surviving spouse or minor children, or a charitable purpose. Though a variety of trusts 
are permitted by law, trust arrangements that are attempts to evade creditors or lawful 
responsibilities will be declared void by the courts. If you are attempting to decrease 
liability and want to help others a better option is probably the Unincorporated 
Church/Ministry since it is outside the jurisdiction of government (that's what Un- 
incorporated means), and it enjoys the separation of Church & State. Trust Defined 
(noun): "an entity created to hold assets for the benefit of certain persons or entities, 
with a trustee managing the trust (and often holding title on behalf of the trust). Most 
trusts are founded by the persons (called trustors, settlors and/or donors) who execute a 
written Declaration of Trust which establishes the trust and spells out the terms and 
conditions upon which it will be conducted. The Declaration also names the original 
trustee or trustees, successor trustees, or means to choose future trustees. The assets of 
the trust are usually given to the trust by the creators, although assets may be added by 
others. During the life of the trust, profits and, sometimes, a portion of the principal 
(called "corpus") may be distributed to the beneficiaries, and at some time in the future 
(such as the death of the last trustor or settlor) the remaining assets will be distributed 
to beneficiaries." 

State statutes and court decisions govern the law of trusts. The validity of a trust of real 
property is determined by the law of the state where the property is located. The law of 
the state of the permanent residence (domicile) of the settlor frequently governs a trust 
of Personal Property, but courts also consider a number of factors — such as the 
intention of the settlor, the state where the settlor lives, the state where the trustee lives, 
and the location of the trust property — when deciding which state has the greatest 
interest in regulating the trust property. 

Establishing a 
Trust Fund 

Continued on next page 

What is a Trust?, Continued 

As a general rule, personal property can be held in a trust created orally. Express 
trusts of real property, however, must be in writing to be enforced. When a person 
creates a trust in his will, the resulting testamentary trust will be valid only if the 
will itself conforms to the requirements of state law for wills. Some states have 
adopted all or part of the Uniform Probate Code, which governs both wills and 
testamentary trusts. 

The person who creates the trust is the settlor. The person who holds the property 
for another's benefit is the trustee. The person who is benefited by the trust is the 
beneficiary, or cestui que trust. The property that comprises the trust is the trust res, 
corpus, principal, or subject matter. For example, a parent signs over certain stock to 
a bank to manage for a child, with instructions to give the dividend checks to him 
each year until he becomes 21 years of age, at which time he is to receive all the 
stock. The parent is the settlor, the bank is the trustee, the stock is the trust res, and 
the child is the beneficiary. 

A fiduciary relationship exists in the law of trusts whenever the settlor relies on the 
trustee and places special confidence in her. The trustee must act in Good Faith with 
strict honesty and due regard to protect and serve the interests of the beneficiaries. 
The trustee also has a fiduciary relationship with the beneficiaries of the trust. 

A trustee takes legal title to the trust res, which means that the trustee's interest in 
the property appears to be one of complete ownership and possession, but the trustee 
does not have the right to receive any benefits from the property. The right to benefit 
from the property, known as equitable title, belongs to the beneficiary. 

The terms of the trust are the duties and powers of the trustee and the rights of the 
beneficiary conferred by the settlor when he created the trust. 

Within this section of the United WE Grow website you will find information on 
different types of Trust. For the Dinaritarian the main thing to know is that there are 
still tax liabilities upon cash-in when using a Trust, after cash-in a Trust may be 
useful, especially for leaving wealth to others upon your demise, for charitable 
purposes, or providing educational funds. Again, if your objective is to be charitable 
we highly suggest you look in to the Unincorporated Minis 

Continued on next page 

Establishing a 
Trust Fund 


-73 - 

What is a Trust?, Continued 

From a tax perspective, one of the best funding vehicles for an irrevocable trust is 
permanent life insurance, which can minimize both income and estate taxes while 
enhancing greatly the amount passed on to heirs. Increases in the cash value inside a life 
insurance policy are not subject to income tax. When the insured dies, the life insurance 
pays out a death benefit that is a multiple of the amount paid in premiums. And that death 
benefit is not subject to income tax. Thus, by investing trust assets in a life insurance 
policy, a donor can transfer significant assets to heirs entirely income and estate tax free. 
Irrevocable trusts funded with life insurance are so common they are given a special 
name: "ILITs", or "irrevocable life insurance trusts." 

One of the best funding vehicles for an irrevocable trust is permanent life insurance. 

Life insurance also can provide needed liquidity to heirs when an estate holds assets that 
cannot easily be sold at full value, such as a family owned business. Without liquidity at 
death, heirs who otherwise would continue the family business might have to sell it to pay 
estate taxes due. The business owner's purchase of life insurance through an ILIT can 
provide heirs with tax-free funds to offset the tax due on the estate, keeping the business 

To provide liquidity in the case of married couples, "second-to die" life insurance is often 
used. A second-to-die policy pays at the death of the second spouse, when the estate tax is 
due. (The first spouse to die can escape estate tax by transferring assets to the surviving 
spouse; estate tax rules permit unlimited tax-free transfers between spouses.) Second-to- 
die insurance is typically less expensive than traditional life insurance. 

A donor may fund the ILIT with an amount up to the lifetime gift tax exemption 
(currently $5.25 million) without triggering gift taxes. As an alternative, a donor may fund 
an ILIT with annual gifts within the annual gift tax exclusion amount (currently $14,000 
per donee or trust beneficiary). These gifts are then used to pay annual premiums on the 

There are other means available to fund an ILIT. For instance, it may be possible to 
convert existing life insurance policies to a policy more suited to provide liquidity at a 
lower cost. A comprehensive life insurance review can uncover this potential. 

Similarly, an investor might use required minimum distributions from an IRA (or other 
qualified plan) to pay the premiums on an insurance policy. Combining a life insurance 
purchase with an annuity might also make sense. An annuity can provide a guaranteed 
minimum annual cash flow. That cash flow can be used to pay annual premiums on a life 
insurance policy, without fear that the policy will lapse due to inability to pay the 
premiums in the future. 

Life Insurance 

in an 


Continued on next page 

What is a Trust?, Continued 

Life Insurance An ILIT must be carefully structured with professional assistance to assure that the 

^" donor does not retain excessive rights over the life insurance policy. Retention of such 

Jf^JQ^ rights could cause the life insurance proceeds to be included in the donor's estate. 


Virtually all investment income earned by an irrevocable trust typically is taxed at the 
highest tax rate. This rule is a significant — and adverse — departure from the tax 
rules governing taxation of individuals. An individual taxpayer is subject to the top tax 
rate only to the extent his or her taxable income exceeds $400,000 ($450,000 for a 
family). But an irrevocable trust is subject to the top tax rate on income in excess of 
only $1 1,950. Thus, while even affluent families avoid the highest income tax rate on 
a significant portion of their income, a trust must pay tax at that rate on virtually all of 
the income it earns. 

An irrevocable trust is subject to the top tax rate on income in excess of only $11,950. 

And that top income tax rate has increased significantly. In 2012, the top tax rate on 
most dividends and long-term capital gains was 15%, and the top tax rate on other 
types of investment income was 35%. The fiscal cliff compromise raised the 
maximum income tax rate on most dividends and long-term capital gains to 20% and 
the tax rate on other types of investment income to 39.6%. In addition, under the 
health care reform law passed in 2009 and upheld by the Supreme Court last year, 
beginning in 2013 investment income is subject to an additional 3.8% surtax. When 
the surtax is added to the new higher regular tax rates, the tax rate on most dividends 
and long-term capital gains rises to 23.8% and the tax rate on other investment income 
rises to 43.4%. Thus, the tax rates applied to virtually every dollar of irrevocable trust 
income have risen almost nine percentage points in 2013. 

A trust can reduce income taxes by distributing investment income currently to a 
beneficiary. A trust pays no income tax on distributed income. Instead such income is 
taxed to the recipient at the recipient's tax rate — which may be lower (and in any 
event cannot be higher) than the trust's tax rate. 

But reducing trust income tax by distributing income that beneficiaries do not need is 
inefficient and thwarts the estate planning purpose of the trust. Estate taxes are 
minimized where the trust retains its investment earnings so the earnings may later 
pass to final beneficiaries estate tax free. If trust income is distributed currently 
instead, the beneficiaries needlessly pay income tax and, later, estate tax when they 
fail to spend the income during their lives. 

Taxation of 
Trust Income 

Continued on next page 

What is a Trust?, Continued 

Taxation of 
Trust Income 


This, then, is the conundrum of trust taxation: To keep income taxes low, a trust should 
distribute its income. But to keep estate taxes low, a trust should retain its income and 
pass it on later to future generations. The conundrum can be solved only by 
accumulating earnings in the trust and investing assets wisely to minimize the income 
tax imposed on those earnings. 

To achieve both estate tax and income tax efficiencies a trust should invest in assets that 
generate income exempt from tax or taxed at low rates. For this reason, when investing 
trust assets, a professional management strategy that seeks to enhance after-tax return by 
balancing investment and tax considerations is exceedingly important. 

Conclusion Using irrevocable trust assets to purchase permanent life insurance can provide greater 
amounts to heirs while minimizing both estate and income taxes. Given the higher 
income tax rates in effect, now is the time to discuss these techniques with a qualified 

^ Some states have adopted — or have suggested they will adopt — a lower gift tax 
exemption amount for purposes of applying the state inheritance tax. Thus it is 
important to consider state tax consequences before undertaking any gift. 

Andrew H. Friedman is the Principal of The Washington Update LLC and a former 
senior partner in a Washington, D.C. law firm. He speaks regularly on legislative and 
regulatory developments and trends affecting investment, insurance, and retirement 
products. He may be reached at . 

Neither the author of this paper, nor any law firm with which the author is associated, is 
providing legal or tax advice as to the matters discussed herein. The discussion herein is 
general in nature and is provided for informational purposes only. There is no guarantee 
as to its accuracy or completeness. It is not intended as legal or tax advice and 
individuals may not rely upon it (including for purposes of avoiding tax penalties 
imposed by the IRS or state and local tax authorities). Individuals should consult their 
own legal and tax counsel as to matters discussed herein and before entering into any 
estate planning, trust, investment, retirement, or insurance arrangement. 

Andy Friedman is unaffiliated with Merrill Lynch. The opinions reflected are solely his 
own and Merrill Lynch expresses no opinion with regard to them. 

Copyright Andrew H. Friedman 2013. All rights reserved. 

Continued on next page 

-11 - 

What is a Trust?, Continued 

If you plan on opening your new account in the name of your LLC, corporation, or 
other business entity, etc., make sure to take the following items with you to the bank: 

1. EIN Number 

2. Letter of good standing from the Secretary of State website 

3. Your Operating Agreement 

4. Certificate of Trust 

If you are using a trust and it has a separate EEN number, be sure to take it, as well as 
your trust agreement. 

Every bank is different in what they require, but you want to be prepared. 

Things to Note 1. When signing your bank documents, sign with "All rights reserved - Without 
prejudice - UCC 1-308" above your signature. 

2. Your Trust documents are private and confidential. Why you set up a Trust and 
how that Trust is set up is NONE of the bank's business. 

Trusts go by many different names, depending on the characteristics or the purpose of 
the trust. Because trusts often have multiple characteristics or purposes, a single trust 
might accurately be described in several ways. For example, is often an express trust, 
which might include an incentive trust, and so forth. 

Constructive trust. Unlike an express trust, a constructive trust is not created by an 
agreement between a settlor and the trustee. A constructive trust is imposed by the law 
as an "equitable remedy." This generally occurs due to some wrongdoing, where the 
wrongdoer has acquired legal title to some property and cannot in good conscience be 
allowed to benefit from it. A constructive trust is, essentially, a legal fiction. For 
example, a court of equity recognizing a plaintiffs request for the equitable remedy of 
a constructive trust may decide that a constructive trust has been created and simply 
order the person holding the assets to deliver them to the person who rightfully should 
have them. The constructive trustee is not necessarily the person who is guilty of the 
wrongdoing, and in practice it is often a bank or similar . The distinction may be finer 
than the preceding exposition in that there are also said to be two forms of 
constructive trust, the institutional constructive trust and the remedial constructive 
trust. The latter is an "equitable remedy" imposed by law being truly remedial; the 

former arising due to some defect in the transfer of property. 

Continued on next page 

Documents for 
Opening a 
Trust Account 

21 Types of 

What is a Trust?, Continued 

Directed trust. In these types, a directed trustee is directed by a number of other trust 
participants in implementing the trust's execution; these participants may include a 
distribution committee, trust protector, or . The directed trustee's role is administrative 
which involves following instructions, holding legal title to the trust assets, providing 
fiduciary and tax accounting, coordinating trust participants and offering dispute resolution 
among the participants 

Dynasty trust (also known as a generation-skipping trust). A type of trust in which assets 
are passed down to the grantor's grandchildren, not the grantor's children. The children of 
the grantor never take title to the assets. This allows the grantor to avoid the estate taxes that 

would if the assets were transferred to his or her children first. Generation- skipping trusts 
can still be used to provide financial benefits to a grantor's children, however, because any 
income generated by the trust's assets can be made accessible to the grantor's children while 
still leaving the assets in trust for the grandchildren. 

Express trust. An express trust arises where a settlor deliberately and consciously decides 
to create a trust, over their assets, either now, or upon his or her later death. In these cases 
this will be achieved by signing a trust instrument, which will either be a will or a trust 
deed. Almost all trusts dealt with in the trust industry are of this type. They contrast with 
resulting and constructive trusts. The intention of the parties to create the trust must be 
shown clearly by their language or conduct. For an express trust to exist, there must be 
certainty to the objects of the trust and the trust property. In the USA Statute of Frauds 
provisions require express trusts to be evidenced in writing if the trust property is above a 
certain value, or is real estate. 

Fixed trust. In a fixed trust, the entitlement of the beneficiaries is fixed by the settlor. The 
trustee has little or no discretion. Common examples are: a trust for a minor ("to x if she 
attains 21"); a life interest ("to pay the income to x for her lifetime"); and a remainder ("to 
pay the capital to y after the death of x") 

Hybrid trust. A hybrid trust combines elements of both fixed and discretionary trusts. In a 
hybrid trust, the trustee must pay a certain amount of the trust property to each beneficiary 
fixed by the settlor. But the trustee has discretion as to how any remaining trust property, 
once these fixed amounts have been paid out, is to be paid to the beneficiaries. 

Implied trust. An implied trust, as distinct from an express trust, is created where some of 
the legal requirements for an express trust are not met, but an intention on behalf of the 
parties to create a trust can be presumed to exist. A resulting trust may be deemed to be 
present where a trust instrument is not properly drafted and a portion of the equitable title 
has not been provided for. 

Continued on next page 

21 Types of 



What is a Trust?, Continued 

Incentive trust. A trust that uses distributions from income or principal as an incentive 
to encourage or discourage certain behaviors on the part of the beneficiary. The term 
"incentive trust" is sometimes used to distinguish trusts that provide fixed conditions for 
access to trust funds from discretionary trusts that leave such decisions up to the trustee. 

Inter vivos trust (or living trust). A settlor who is living at the time the trust is 
established creates an inter vivos trust. 

Irrevocable trust. In contrast to a revocable trust, an irrevocable trust is one in which 

the terms of the trust cannot be amended or revised until the terms or purposes of the 
trust have been completed. Although in rare cases, a court may change the terms of the 
trust due to unexpected changes in circumstances that make the trust uneconomical or 
unwieldy to administer, under normal circumstances an irrevocable trust may not be 
changed by the trustee or the beneficiaries of the trust. 

Offshore trust. Strictly speaking, an offshore trust is a trust which is resident in any 
jurisdiction other than that in which the settlor is resident. However, the term is more 
commonly used to describe a trust in one of the jurisdictions known as offshore financial 
centers or, colloquially, as tax havens. Offshore trusts are usually conceptually similar to 
onshore trusts in common law countries, but usually with legislative modifications to 
make them more commercially attractive by abolishing or modifying certain common 
law restrictions. By extension, "onshore trust" has come to mean any trust resident in a 
high-tax jurisdiction. 

Personal injury trust. A personal injury trust is any form of trust where funds are held 
by trustees for the benefit of a person who has suffered an injury and funded exclusively 
by funds derived from pajonents made in consequence of that injury. 

Private and public trusts. A private trust has one or more particular individuals as its 
beneficiary. By contrast, a public trust (also called a charitable trust) has some charitable 
end as its beneficiary. In order to qualify as a charitable trust, the trust must have as its 
object certain purposes such as alleviating poverty, providing education, carrying out 
some religious purpose, etc. The permissible objects are generally set out in legislation, 
but objects not explicitly set out may also be an object of a charitable trust, by analogy. 
Charitable trusts are entitled to special treatment under the law of trusts and also the law 
of taxation. 

Protective trust. Here the terminology is different between the UK and the USA: 
In the UK, a protective trust is a life interest which terminates on the happening of a 
specified event such as the bankruptcy of the beneficiary or any attempt by him to 
dispose of his interest. They have become comparatively rare. 

21 Types of 


Continued on next page 

What is a Trust?, Continued 

In the USA, a protective trust is a type of trust that was devised for use in estate planning. 
(In another jurisdiction this might be thought of as one type of asset protection trust.) Often 
a person, A, wishes to leave property to another person B. A however fears that the 
property might be claimed by creditors before A dies, and that therefore B would receive 
none of it. A could establish a trust with B as the beneficiary, but then A would not be 
entitled to use of the property before they died. Protective trusts were developed as a 
solution to this situation. A would establish a trust with both A and B as beneficiaries, with 
the trustee instructed to allow A use of the property until they died, and thereafter to allow 
its use to B. The property is then safe from being claimed by A's creditors, at least so long 
as the debt was entered into after the trust's establishment. This use of trusts is similar to 
life estates and remainders, and are frequently used as alternatives to them. 

Purpose trust. Or, more accurately, non-charitable purpose trust (all charitable trusts are 
purpose trusts). Generally, the law does not permit non-charitable purpose trusts outside of 
certain anomalous exceptions which arose under the eighteenth century common law (and, 
arguable, Quistclose trusts). Certain jurisdictions (principally, offshore jurisdictions) have 
enacted legislation validating non-charitable purpose trusts generally. 

Resulting trust. A resulting trust is a form of implied trust which occurs where (1) a trust 
fails, wholly or in part, as a result of which the settlor becomes entitled to the assets; or (2) 
a voluntary payment is made by A to B in circumstances which do not suggest gifting. B 
becomes the resulting trustee of A's payment. 

Revocable trust. A trust of this kind may be amended, altered or revoked by its settlor at 

any time, provided the settlor is not mentally incapacitated. Revocable trusts are becoming 
increasingly common in the US as a substitute for a will to minimize administrative costs 
associated with probate and to provide centralized administration of a person's final affairs 
after death. 

Secret trust. A post mortem trust constituted externally from a will but imposing 
obligations as a trustee on one, or more, legatees of a will. 

Simple trust. In the US jurisdiction this has two distinct meanings: In a simple trust the 
trustee has no active duty beyond conveying the property to the beneficiary at some future 
time determined by the trust. This is also called a bare trust. All other trusts are special 
trusts where the trustee has active duties beyond this. 

A simple trust in Federal income tax law is one in which, under the terms of the trust 
document, all net income must be distributed on an annual basis. 

21 Types of 


- 81 - 

Continued on next page 

What is a Trust?, Continued 


21 Types of In the UK a bare or simple trust is one where the beneficiary has an immediate and 
L"!!!^*^ j\ absolute right to both the capital and income held in the trust. Bare trusts are 

commonly used to transfer assets to minors. Trustees hold the assets on trust until the 
beneficiary is 18 in England and Wales, or 16 in Scotland. 

Special trust. In the US, a special trust, also called complex trust, contrasts with a 
simple trust (see above). It does not require the income be paid out within the subject 
tax year. The funds from a complex trust can also be used to donate to a charity or for 
charitable purposes. 

Special Power of Appointment trust (SPA Trust). A trust implementing a special 
power of appointment to provide asset protection features. 

Off-Shore Banking 

Since Asset Protection ultimately relies on removing the assets from both the U.S. 
jurisdiction and the control of the clients, a very good question is: How can I be sure 
that the new foreign Trustee doesn't run away with my money should I ever need to 
use the Trust? To answer this question, we need to look at the intricacies of how a 
well-drafted Asset Protection Trust creates internal and external "checks and 

To begin, let's look at how the plan controls the money through: 

1. A legal structure which requires the approval and consent of various parties 

who act as checks and balances on the assets. 

2. A physical tracking mechanism set up directly with the independent client's 

chosen bank, which holds the money, so that the client is always aware of the 
money's location. 

The 4 Roles in The Asset Protection Trust has 4 primary roles: 
a Trust 

1. The Settlors (the clients). That's YOU. 

2. The Trustee. 

3. The Protector. 

4. The Beneficiaries. 

Trustee's Role The legal control of the assets is done through a two-party approval mechanism. This 
is kind of like requiring two signatures on a check. The Trustee is responsible for the 

management of the assets and has legal title. However, unless the Trustee is the client, 
they do not have physical possession of the money, which is held at an independent 
and unrelated bank. 

In order for the Trustee to actually do anything with the money, they then must also 
have the consent of The Protector. This would include things like wiring the money to 
another bank or even to another account with a different name, or making any changes 
whatsoever in the physical location of the money. 

Continued on next page 

Lodmell & 




Off-Shore Banking, Continued 

Protector The role of Protector is just that, to protect the assets of the Trust for the benefit of the 

Beneficiaries. As such the Protector has two primary jobs: 

1. To approve of the actions of the Trustee. 

2. To remove the Trustee if the Trustee is not acting in the best interests of the 


This is what ensures that the Trustee doesn't run off with the money. The next logical 
question is: So who keeps an eye on the Protector? This is where the loop closes back to 
the only location in which the clients can have 100% security themselves. The Settlors 
(clients) have the power to remove and replace the Protector for any reason they choose to 
at any time. The only exception is if a U.S. court is demanding that they do so to appoint 
the court or a court representative as Protector, in which case that particular order is 

The only other possible loophole that could endanger the money is if both the Trustee and 
the Protector conspired together to defraud the Trust. This is highly unlikely in and of itself 
due to the fact that the Trustee is a large Trust Company and has their own internal checks 
and balances as well as the fiduciary duty and liability to the Trust, and the fact that the 
Protector is personally chosen directly by the client and has the same fiduciary duty. 
Nevertheless, the plan has one final check that ensures that the client themselves always 
have full knowledge of where the money is, and where it is going to. 
This final check is called a 'client acknowledgment' procedure. The bank, typically a large 
private Swiss bank, chosen by the client, will have a hold period prior to the execution of 
any orders to withdraw funds, or move money from the Trust account. This procedure 
would require the bank to have a personal confirmation that the Beneficiaries (also the 
clients) have direct knowledge of the proposed transfer. 

Beneficiaries The Beneficiaries are not in "control" of the money directly. However, since the bank must 
have a direct personal verification that the Beneficiaries are aware of the transfer, if a 
proposed transfer is not approved, the bank will be so informed, by the clients themselves. 
The order would then be delayed for a sufficient period of time for the Settlors to appoint a 
new Protector, who will appoint a new Trustee. 

As you might imagine, the net effect is that it is virtually impossible to make any move with Trust assets 
without the client's direct knowledge and consent. This combined with the fact that any serious Asset 
Protection Plan is going to use only the most stable and reputable institutions to fill any fiduciary role 
makes having your assets offshore safer than the local bank down the street by far. 
The difference is that the bank down the street is in the jurisdiction of the court at the other end of the 
street. And right in the middle is the ail-too familiar lawyers office, which is where all the trouble began in 
the first place. 

Continued on next page 

Off-Shore Banking, Continued 

Contact Info Douglass S. Lodmell, J.D., LL.M. 

Lodmell & Lodmell, P.C. 1631 E. Cheery Lynn Phoenix, Arizona 85016 
(602) 230-2014 

Sending and Receiving International Payments 

Dealing in foreign currency can save you time and money, reduce risk, and help you 
gain a competitive advantage. 

• Save time. When you send a wire in foreign currency, the recipient does not 
have to wait for the overseas bank to accept it and convert it to local currency. 
Wires sent in foreign currency move directly to the foreign beneficiary and are 
subject to less delay than US denominated wires sent through intermediary 
banks. In many countries. Wells Fargo maintains accounts that can be used to 
receive incoming wires and accelerate collection times. 

• Save money. When you send international wires in foreign currency, you pay 
lower fees than for US dollar international wires. You may also pay lower 
international bank fees. 

• Reduce risk. By sending a wire in foreign currency you can lock in the 
exchange rate, secure your order, and know the full cost of the transaction 
before the wire is sent. 

• Gain competitive advantage. You may be able to negotiate a better price with 
your overseas business partner. By receiving a wire in local currency, the 
beneficiary will avoid assuming the risks of currency rate fluctuations and the 
costs of foreign exchange. 

A Foreign Exchange Specialist can help you manage the financial risk associated with 
changing currency values. Some of these risks include transaction-related charges 
from foreign banks, overpaying your supplier, overcharging your customers, lowering 
the competitiveness of your product, and undercharging your customers. Even 
businesses that only trade in US dollars may face opportunity risk if they have 
competitors dealing in foreign currency and therefore are enjoying competitive pricing 
advantages created by exchange rate fluctuations. We specialize in providing you the 
right solution to handle your international transactions. We can also help you find the 
most advantageous way of negotiating transactions. In fact, you may reduce your risk 
by dealing in foreign currency. Contact a Foreign Exchange Specialist at 1-866-819- 

Continued on next page 

Why deal in 



What are the 
risks invoived 
when dealing in 


Off-Shore Banking, Continued 

How do I get the 
most current real 
time exchange 

Wells Fargo offers services in virtually any freely traded currency. Call a Foreign 
Exchange Specialist for current rates and market commentary. Additionally, 
customers can receive real time exchange rates through Foreign Exchange Online. 

When traveling 
internationally on 
business what 
forms of payment 
should I bring? 

We recommend carrying some foreign cash to help cover initial expenses such as 
taxis, meals and tips. You can order foreign currency online, at one of our in-store 
Wells Fargo International Teller sites, or by phone at 1-800-678-4653 . While we 
suggest carrying different forms of payment including currency (cash), credit cards 
and ATM cards, it's a good idea to avoid carrying large amounts of cash and provide 
additional security, by using ATM and credit cards when possible. 

How can I get a 
foreign currency 

You can visit a Wells Fargo store, visit us online, or contact a Foreign Exchange 
Specialist at 1-800-678-4653. 

Can Wells Fargo 
accept foreign 
checks for 
deposit, and if 
so, how long 
does it take to 
credit my 

Yes. Wells Fargo accepts deposits of foreign checks for many countries. Foreign 
checks are credited to your account in a matter of days. With our Global Check 
Clearing service, foreign check deposits can be prepared in your office and mailed to 
our processing centers. You no longer need to visit the bank or wait weeks for your 
checks to clear. After you sign up for this service, you will need to stamp the front of 
the check and include a deposit slip. Then, send everything via overnight mail to 
Wells Fargo's Global Check Clearing Operations Center. To get started, contact a 
Foreign Exchange Specialist at 1-877-201-9639 

What is the 
benefit of 
sending or 
receiving foreign 
currency wires 
for my business? 

Save time. When you send a wire in foreign currency the recipient does not have to wait 
for the overseas bank to accept it and convert it to local currency. Wires sent in foreign 
currency move directly to the foreign beneficiary and are less subject to delay than US 
denominated wires sent through intermediary banks. In many countries. Wells Fargo 
maintains accounts that can be used to receive incoming wires and accelerate collection 

Save money. When you send international wires in foreign currency, you pay lower fees 
than for US dollar international wires. You may also pay lower international bank fees. 

Reduce risk. By sending a wire in foreign currency you can lock in the exchange rate, 
secure your order, and know the full cost of the transaction before the wire is sent. 

Gain competitive advantage. You may be able to negotiate a more favorable price with 
your overseas business partner. By receiving a wire in local currency, the beneficiary will 
avoid assuming the risks of currency rate fluctuations and the costs of foreign exchange . 

Continued on next page 

Off-Shore Banking, Continued 

You can perform four basic types of foreign exchange transactions:»Spot contracts 
allow you to buy or sell foreign currency at competitive FX market rates. Once you 
select the currency you want to buy or sell, the foreign exchange rate is presented for 
you to accept. 

• Forward contracts allow you to arrange today to buy or sell foreign currency 
with delivery of funds occurring on a future date beyond the spot date. This 
eliminates the impact of a rate fluctuation on your profit margins when you 
receive or make future foreign currency payments. 

• Forward window contracts allow you to buy or sell a foreign currency at a 
designated price during a specified period between two future dates, providing 
more flexibility than contracts tied to a single date. 

• Swap transactions allow you to protect the dollar value of an initial overseas 
investment in a foreign currency and any receivables generated in the future. A 
swap transaction is the simultaneous purchase and sale of currency to cover your 
short- and long-term exposures. 

In addition, you may settle your foreign currency contracts via wire transfer or draft or 
by accessing your Wells Fargo Multi -Currency Account. Repetitive payment 
instructions are stored within the system, allowing you to efficiently settle transactions 
without re-keying data. Drafts can be printed locally from your desktop. You can also 
request a rate for exchanging checks in qualifying foreign currencies and deposit the US 
dollar equivalent into your company's Wells Fargo account. 

Foreign Exchange Online 

Yes. Wells Fargo integrates fraud prevention measures to maximize the security of 
your online sessions. Read more about Wells Fargo's commitment to online security. 
As a leader in electronic banking. Foreign Exchange Online takes advantage of the 
highest level of commercially available security: 128-bit encrj^tion. Our system 
requires three-factor authentication — company ID, user ID and password — in 
addition to a token card to initiate the transaction. 

Foreign Exchange Online is accessible through the CEO® business portal and Wells 

Fargo Business Online® Banking 24 hours a day, 7 days a week. You can execute 
transactions and get account information any time and on any PC with Internet access 
and a Web browser. To get started, contact a Foreign Exchange Specialist at 1-866- 
819-8972 . 

Continued on next page 

What types of 
transactions can 
I perform with 

Is the Foreign 
Exchange Online 
site secure? 

How does 
transacting my 
FX business over 
the Internet 
improve my 


Off-Shore Banking, Continued 

Different staff members in my company have different approval levels. How is this handled? 

Users' individual security levels determine the level of menu options that they may access. Users 
cannot activate selections for which they are not authorized. 

Who assigns security levels on the system? 

Your company's security administrator identifies the users and assigns security levels based on 
functional responsibilities. 

How does using Foreign Exchange Online make repetitive payments more efficient? 

The system stores repetitive settlement instructions and drop-down menus that allow you to quickly 
fill in repeat beneficiaries. You can also save beneficiary information in a database for future use, 
make split payments from a single contract and settle your contracts with easy-to-use screens. 

Since timely management of my FX transactions is important, how will I know if 
there is an open item and avoid losing the opportunity to complete the 

Your Foreign Exchange Online home page displays a message alerting you to 
outstanding contracts needing settlement instructions and contracts maturing within a 

I have a current relationship with a Foreign Exchange Specialist. Will that 
relationship remain the same? 

Absolutely. Foreign Exchange Online is another way you can access foreign exchange 
services at Wells Fargo. It enhances, rather than replaces, your relationship with your 
FX Specialist. 

Call 1-800-786-5593 


Special ist 

The FinCEN Currency Transaction Report (CTR) 

Introduction The following frequently asked questions (FAQs) have been provided to assist 

financial institutions in their use of the FinCEN CTR, which, as of April 1, 2013, is 
the only acceptable format for submitting currency transaction reports to FinCEN. 
FinCEN will issue additional FAQs and guidance as needed. 

Expectations What are the expectations for completing the Items with an asterisk ("critical") 
and without an asterisk ("non-critical") found on the FinCEN CTR or any other 
FinCEN report? 

As explained in FinCEN's March 2012 guidance ( FIN-2012-G002 ), for both critical 
and non-critical elements, financial institutions should complete those Items for 
which they have relevant information, regardless of whether or not the individual 
Items are deemed critical for technical filing purposes. 

For critical Items, financial institutions must either provide the requested information 
or affirmatively check the "Unknown" (Unk.) box that is provided on the FinCEN 
CTR and FinCEN Suspicious Activity Report (SAR) (or any other FinCEN Report). 
For non-critical Items, FinCEN expects financial institutions will provide the most 
complete filing information available within each report consistent with existing 
regulatory expectations. Based upon feedback from law enforcement officials, such 
information is important for query purposes. However, the new FinCEN SAR and 
FinCEN CTR do not create any new obligations to collect data, either manually or 
through an enterprise- wide IT management system, where such collection is not 
already required by current statutes and regulations, especially when such collection 
would be in conflict with the financial institution's obligations under any other 
applicable law. Therefore, a financial institution may leave non-critical fields without 
an asterisk blank when information is not readily available. 

How do I meet my underlying obUgation to submit a complete and accurate 
report if my filing software does not allow me to include known information for 
a field without an asterisk? 

FinCEN expects financial institutions to have the capability to submit information for 
any of the data fields in the FinCEN CTR or SAR (or any other FinCEN report). In 
general, if your financial institution's filing software does not permit the institution to 
include information in a field without an asterisk where information has been 
collected and is pertinent to the report, the financial institution should instead 
complete a discrete filing for those transactions until the software is updated. If a 
filing has been submitted in which such information was not included because of 
such a limitation in the filing software, an amended filing should be completed using 
either the discrete filing method or an amended batch filing, once the software is 
updated. Such software updates should be implemented within a reasonable period of 
time. (800) 949-2732 FREE FinCEN Regulatory Helpline at (800) 949-2732. 



The FinCEN Currency Transaction Report (CTR), Continued 

BSA E- When I log into BSA E-Filing, I do not see the new FinCEN CTR. 

^"'"9 "General users" of the Bank Secrecy Act (BSA) E-Filing System can only view those 

reports that the "supervisory user" has given them permission to see. If you cannot view or 
access the new FinCEN CTR, please contact your supervisory user to request access. 

Supervisory users of the BSA E-Filing System are able to view all available FinCEN 
reports when they log into the BSA E-Filing System. The supervisory user must grant 
access for the general users to be able to view the new FinCEN reports. 

To do so, a supervisory user first must: 

1. Log into the BSA E-Filing System. 

2. Select "Manage Users" from the left-hand side under "User Management." 

3. Select the general user whose access roles require updating. 

4. Select "Reassign Roles." 

Upon reaching the next webpage, the supervisory user must: 

1 . Select the roles ("FinCEN CTR Filer," "FinCEN CTR Batch Filer," "FinCEN SAR 
Filer," "FinCEN SAR Batch Filer," "FinCEN DOEP Filer," "FinCEN DOEP Batch 
Filer," etc.) in the "Remaining Roles" box that need to be added for the general user, 

2. Move those selected roles to the "Current Roles" box and select "Continue." 

After all these steps are completed, the general user will now have access to the selected 
new roles and can access the new FinCEN reports. 

Completing Where can I find the instructions for completing the new FinCEN CTR? 

the FinCEN Electronic filing instructions can be found in Attachment C of the "FinCEN CTR Electronic 


Filing Requirements" document. 

This document can be found under "User Quick Links" of the BSA E-Filing System 
homepage ( http ://b s aef iling . fincen . treas . go v/main . html ) or on the "Forms" page of the 
FinCEN Web site ( http ://www .fincen. go v/forms/bsa forms/) . 

Additionally, instructions are embedded within the discrete filing version of the FinCEN 
CTR and are revealed when scrolling over the relevant tields with your computer "mouse." 

Filing Name What do I enter for "Filing Name"? 

The filing name can be any name the financial institution chooses to use to identify the 
specific filing (e.g.. Bank CTR 4-4-2012). The process for assigning filing names is for the 
financial institution to decide, and can assist the financial institution in tracking its BSA 
filings. We recommend using a naming convention that will be easy to understand and track 
for recordkeeping and audit/examination purposes. 

Continued on next page 

The FinCEN Currency Transaction Report (CTR), Continued 

Amended How to file a corrected/amended FinCEN CTR via the BSA E-Filing System? 

Filers attempting to submit a corrected/amended CTR via the BSA E-Filing System 
should check "Correct/amend prior report" and enter the previous Document Control 
Number (DCN)/BSA Identifier (ID) in the appropriate field. The filer should complete 
the FinCEN CTR in its entirety, including the corrected/amended information, save 
(and print, if desired) a copy of the filing, and submit the filing. The corrected/amended 
FinCEN CTR will be assigned a new BSA ID. 

To find your DCN/BSA ID for the previous filing, you will need the acknowledgement 
received by the general user after successfully submitting the report into the BSA E- 
Filing System. All general users assigned access to the new FinCEN reports 
automatically receive these acknowledgements. Filers can choose to receive these 
acknowledgements in an "ASCII" or "XML" format. Please also note that supervisory 
users cannot view the contents of the acknowledgements received by the general users. 

Amended How do I correct/amend a prior CTR filing via the BSA E-Filing System if I do 
CTR Filing j^^^g ^yie prior DCN/BSA ID? 

If the previous DCN/BSA ID is not known, filers should enter all "zeros" (14 in total) 
for the previous DCN/BSA ID. This information was published in a Notice on October 
31, 2011. This notice is applicable to corrections/amendments for any previous filing. 
The filer should complete the FinCEN CTR in its entirety, including the 
corrected/amended information, save (and print, if desired) a copy of the filing, and 
submit the filing. The corrected/amended FinCEN CTR will be assigned a new BSA 
ID that will be sent to the filer in the FinCEN CTR acknowledgement. The new BSA 
ID will begin with the number "3 1 ." 

Obtaining Can we obtain a copy of a FinCEN CTR that we filed using the BSA E-Filing 
Copies System? 

The BSA E-Filing System is not a record keeping program; consequently, filers are not 
able to access or view previously filed reports. The BSA E-Filing System does provide 
tracking information on past report submissions and acknowledgements for accepted BSA 
reports. Users of the BSA E-Filing System must save and can print a copy of the FinCEN 
CTR prior to submitting it. FinCEN does not provide copies of filed reports to filers. 

Continued on next page 

-91 - 

The FinCEN Currency Transaction Report (CTR), Continued 

Saving Copies When should I save the copy of the FinCEN CTR that is being filed using the BSA 
E-Filing System? 

A BSA filing may be saved at any stage of completion and then reopened at a later time 
to complete and submit into the BSA E-Filing System. You must electronically save 
your filing before it can be submitted into the BSA E-Filing System. NOTE: The BSA 
E-Filing System is not a record keeping program. When saving a BSA filing, users 
must save the filing to their computer, network, or other appropriate storage device. For 
additional information about recordkeeping requirements under the BSA, please refer to 
31 CFR § 1010.430(d) and FAQ #11. 

Please note that the BSA E-Filing System will log filers off the system after a certain 
time period if there is no action within the account, even if the filer is working within 
the FinCEN CTR. For that reason, FinCEN strongly recommends that filers download 
the FinCEN CTR template, log out of BSA E-Filing, complete the FinCEN CTR off- 
line, and then log back into BSA E-Filing to upload and submit the report. 

Saving Where can I save a report being filed electronically? 


Reports ^ ^.-j^^. electronically save the filing to his/her computer hard drive, a network drive, or 
other appropriate storage device. By clicking on the "Save" button a standard dialog box 
will appear to allow you to choose the location for your saved report. Once the report is 
saved, the "Submit" button will become available. A filer may also want to print a paper 
copy for your financial institution's records. 

A filer should NOT save a copy of the report on a public computer or a computer that is 
not regularly accessed by the filer.This will ensure that the file remains appropriately 




What are my recordkeeping requirements when I submit a file electronically? 

After submitting a report via the BSA E-Filing System, filers are required to save a 
printed or electronic copy of the report in accordance with applicable record retention 
policies and procedures. Filers are reminded that they are generally required to keep 
copies of their filings for five years. See 31 CFR § 1010.306(a)(2), 31 CFR § 
1010.330(e)(3), 31 CFR § 1010.340(d), 31 CFR § 1020.320(d), 31 CFR § 
1021.320(d), 31 CFR § 1022.320(c), 31 CFR § 1023.320(d), 31 CFR § 1024.320(c), 
31 CFR § 1025.320(d), 31 CFR § 1026.320(d), 31 CFR § 1029.320(d), and 31 CFR § 

Continued on next page 

The FinCEN Currency Transaction Report (CTR), Continued 

Record What is the timeframe for filing the FinCEN CTR? I have seen both 15 and 25 days 

Keeping referenced. 


FinCEN regulations have consistently maintained a regulatory requirement that CTRs be 
filed within 15 days. The 25 -day period was implemented, in connection with receipt of 
magnetic media files (ended December 2008), to account for physically transporting 
(shipping) the magnetic media to the processing center in Detroit, Michigan. FinCEN 
understands that this business practice had continued with respect to batch e-filing, 
particularly considering previous public guidance referencing the 25 -day period. 

In light of the comments received and acknowledging that some financial institutions 

may have needed to change their business processes to become compliant with the rules, 
FinCEN determined that it would temporarily maintain the 25-day compliance period 
referenced in its earlier specifications until March 31, 2013, for those filers that needed 
to update their systems in order to be in compliance with the established regulatory 
requirements. This temporary extension to the filing requirements was to allow sufficient 
time for filers to adjust submission schedules to meet established regulatory 

As of April 1, 2013, all FinCEN CTRs must be filed within 15 calendar days of the 
reported transaction(s). 

Steps for What are the steps for properly submitting a single (discrete) FinCEN CTR filing 

Submitting through the BSA E-Filing System? 
the FinCEN 

CTR Please ensure all of the following steps are followed when completing a single FinCEN 


1. Complete the report in its entirety with all requested or required data known to the 

2. Click "Validate" to ensure proper formatting and that all required fields are 

3. Click "Sign with PIN" - Enter the personal identification number (PIN) the BSA E- 
Filing System has assigned to your user ID. If you do not know your PIN, please 
click on the "Manage PIN" link in the left navigation menu for your PIN to be 


4. CUck "Save" - Filers may also "Print" a paper copy for their records. The "Save" 
button will allow you to select the location to save your filing. 

5. Click "Submit" - After clicking "Submit," the submission process will begin. 

Continued on next page 

-93 - 

The FinCEN Currency Transaction Report (CTR), Continued 

Validating How can I validate that my discrete filing submission was accepted properly by 
Submissions j^e BSA E-Filing System? 

After clicking "Submit," the submission process begins. Once your filing is accepted 
into the BSA E-Filing System, a "Confirmation Page" pop-up will appear with the 
following information: 

a. Tracking ID (A unique tracking ID assigned to the filing by BSA E- 

b. Date and time of the submission 

c. Submission Type 

d. Owner (submitter) Name 

e. Owner (submitter) email address 

f. Filing Name 

An email will also be sent to the email address associated with your BSA E-Filing 
account indicating your submission has been "Accepted" for submission into the BSA 
E-Filing System. 

If the Confirmation Page pop-up is not displayed, your filing was not accepted for 
submission by the BSA E-Filing System. If you are returned to the BSA E-Filing 
System login page, your connection has timed out and you must login to the BSA E- 
Filing System and resubmit your report. It is recommended that you first close out of 
your browser and then re-open it before attempting to log into the BSA E-Filing 
System again. 

Once your report is accepted and a confirmation page pop-up is displayed, the status of 
your report can be viewed by clicking on the "Track Status" link on the left navigation 
menu. The status will appear as "Accepted." Within 48 hours, your report will be 
formally acknowledged as having been successfully processed for inclusion in 
FinCEN 's data base. The status will change to "Acknowledged" in the "Track Status" 
view. In addition, a secure message containing the official BSA ID assigned to your 
report will be sent to your "Secure Mailbox." 

Continued on next page 

The FinCEN Currency Transaction Report (CTR), Continued 

Entities I am filing the FinCEN CTR on an entity; however, the selections in Item 2a-2c all 

reference a person. What selection would I choose when filing on an entity? 

Under the BSA regulations, the definition of "person" found at 31 CFR lOlO.lOO(mm) 
is "an individual, a corporation, a partnership, a trust or estate, a joint stock company, an 
association, a syndicate, joint venture, or other unincorporated organization or group, an 
Indian Tribe (as that term is defined in the Indian Gaming Regulatory Act), and all 
entities recognizable as legal personalities." Since an entity cannot physically conduct a 
transaction, the only selection that would apply is 2c "Person on whose behalf 
transaction was conducted." In addition, if filing on an entity, a filer must select the 
checkbox (Item 4b) for "If entity" in Part I. 

What if more than one "role" (Item 2) applies to the person being listed in Part I? 

If more than one Item 2 option applies to a person involved in the transaction(s), filers 
should complete only one Part I on that person with only one entry in Item 2 pursuant to the 
following construct: 

When to select Option 2a: In addition to when only Option 2a applies, filers should select 
Option 2a "Person conducting transaction on own behalf if 1) Options 2a, 2b, and 2c apply; 
2) Options 2a and 2b apply; or 3) Options 2a and 2c apply. 

When to select Option 2b: In addition to when only Option 2b applies, filers should select 
Option 2b "Person conducting transaction for another" if both Options 2b and 2c apply and 
Option 2a does not apply. 

When to select Option 2c: Filers should select Option 2c "Person on whose behalf 
transaction was conducted" only on the person for whom the transaction is conducted. This 
person cannot have other roles within the transaction or the options would apply. 

When to select Option 2d: In addition to when only Option 2d applies, filers should select 
"Courier Service (private)" if multiple options that include 2d "Courier service (private)" 

Continued on next page 

More than 
One Role 

-95 - 

The FinCEN Currency Transaction Report (CTR), Continued 

Should we aggregate "multiple transactions"? What is the proper way to complete a 
CTR on transactions involving multiple business entities? 

Yes. All the individual transactions a financial institution has knowledge of being 
conducted by or on behalf of the same person during a single business day must be 
aggregated. Debits must be added to debits, and credits must be added to credits. If cash 
debit or credit totals exceed $10,000 in a business day, a CTR is required. If debits and 
credits each exceed $10,000, they can each be reported on a single CTR, but financial 
institutions should not off- set debits and credits against one another or reconcile for 
reporting purposes cash-in transactions with cash-out transactions. Multiple transactions 
in currency must be treated as a single transaction if the financial institution "has 
knowledge that they are by or on behalf of any person and result in either cash in or cash 
out totaling more than $10,000 during any one business day." 

In this regard, institutions should refer to FinCEN Rulings FIN-2001-R002 and FIN-2012- 
GOOl . For example, the requirement to file a CTR may be triggered by an individual 
depositing more than $10,000 into multiple business accounts. In that case, the filing 
should be completed with those entities on whose behalf the transaction(s) were 
conducted and on the individual who conducted the transaction (Part I). In a situation 
where multiple withdrawals involving several individuals have occurred throughout the 
day, common ownership may be relevant to a determination that aggregation is required. 
If multiple businesses are not operating separately and independently, the institution may 
reach the conclusion that their transactions should be aggregated. A CTR would be 
completed indicating those entities on whose behalf the transaction(s) were conducted and 
those individual(s) conducting the transaction(s). Each entity and individual would be 
listed in a respective Part I. This reasoning has traditionally been extended to the 
exemption process as well. 

When do you check the "Multiple transactions" box (Item 3)? 

Filers should check "Multiple transactions" (Item 3) if there were multiple cash-in or 
cash-out transactions of any amount conducted in a single business day by or for the 
person recorded in Part I. "Multiple transactions" is not the same as the Item 24 option 
"Aggregated transactions," which only involves multiple transactions all of which are 
below the reporting requirements and requires at least one of the transactions to be a teller 
transaction. The use of Item 24 "Aggregated transactions" is discussed in more detail in 
FAQ #27. 

For example, if Tom Doe deposited $6,000 to his personal account in the morning, and 
then later in the same business day deposited an additional $5,000 to his personal account, 
the filing institution would check Item 3 "Multiple transactions" when completing a Part I 
on Tom Doe. 





Continued on next page 

The FinCEN Currency Transaction Report (CTR), Continued 

Another example would be if Tom Doe deposited $7,000 into ABC Restaurant's 
business account and then later in the same business day Jane Smith deposited 
$5,000 into ABC Restaurant's business account, the tiling institution would check 
Item 3 "Multiple transactions" when completing a Part I on ABC Restaurant; 
however, the tiling institution would NOT check Item 3 "Multiple transactions" 
when completing a Part I on Tom Doe or Jane Smith. 

Multiple There may be instances where, at one time, an individual brings in funds to deposit 

Accounts multiple accounts at the tinancial institution. Whether or not to check "Multiple 

transactions" in these instances depends on the tinancial institution's procedures. 
For example, a customer brings in $15,000 and deposits the funds to three different 
accounts; the financial institution posts each transaction individually, choosing as a 
matter of policy to define each as a separate transaction. When completing Part I on 
the conductor, the tinancial institution would check Item 3 "Multiple transactions" 
as a result of its procedures to post the transactions individually and treat each one 
as a separate transaction. 





The NAICS How do I determine whether or not to indicate a North American Industry 
Classification System (NAICS) Code? 

FinCEN previously issued guidance in March 2012 that addressed the selection of 
the NAICS Code on the FinCEN CTR and FinCEN SAR. FinCEN emphasized that 
financial institutions will continue to be expected to provide only that information 
for which they have direct knowledge. As noted in that guidance, the issuance of 
the FinCEN CTR does not create any new obligation or otherwise change existing 
statutory and regulatory requirements for the filing institution. In addition, use of a 
NAICS code is not mandatory, and a financial institution may still provide a text 
response with respect to this information within the "Occupation" tield. 

Please note that batch filers must use only the 3-4 digit NAICS codes on our 
approved list of codes. Discrete filers can select from the available drop-down list 
embedded within the CTR. 

Please refer to FIN-2012-G002 for further information. 

Acceptable is it acceptable to indicate terms such as "homemaker," "retired," or 
"unemployed" as descriptions for occupations? 

When recording the occupation, profession, or type of business of the individual or 
entity listed in Part I, use specific descriptions such as "doctor," "carpenter," 
"attorney," "used car dealership," "plumber," "truck driver," "hardware store," etc. 

Continued on next page 


The FinCEN Currency Transaction Report (CTR), Continued 

Generally, do not use non-descriptive items such as "businessman," "merchant," 
"retailer," "retired," or "self-employed." If words like "self-employed," "unemployed," 
"homemaker," or "retired" must be used, however, add the current or former profession 
if known (e.g., "self-employed building contractor," "retired teacher," or "unemployed 
carpenter"). Financial institutions should pay particular attention to customers with 
non-specific occupations who continually make large cash deposits. 

Is a "form of identification" (Item 20) required for an entity? If so, what 
information would we enter in that field? 

For technical filing purposes, Item 20 is a critical field on the FinCEN CTR (identified 
by the *). However, the release of the FinCEN CTR did not create any new obligations 
or otherwise change existing statutory and regulatory expectations of financial 
institutions in filing the new report. 

The previous guidance for completing the identification field on the CTR for an entity 
instructed filers to check the "Other" box and enter "NA" on the line provided. That 
instruction is no longer valid given the addition of the "Unknown" box for Item 20. The 
addition of the "Unknown" box means that filers will no longer use "NA" or "XX" in 
certain fields. 

Therefore, if the filing institution does not have information available or knowledge of a 
"form of identification" for the entity, it should check the "Unknown" box for Item 20. 
FinCEN expects, however, that financial institutions will provide the most complete 
filing information available within each report, regardless of whether or not the 
individual fields are deemed critical for technical filing purposes. Examples of "forms of 
identification" for an entity could include the entity's business license or incorporation 
documents. Please refer to 31 CFR § 1010.312 for additional information on 
identification requirements. 

Please note that if "Other" is selected in Item 20, you must either put in the number 
associated with that other form of identification or space fill the "Number" box to avoid a 
validation error. 

What amount gets listed in Item 21/22 when the person in Part I was both a 

conductor and had transactions conducted on his or her behalf? 

Scenario: Tom Doe deposited $6,000 into his personal account. During the same 
business day, Jane Smith deposited an additional $5,000 into Tom Doe's personal 

In this scenario, the filing institution would complete two Part Is, one for Tom Doe and 
one for Jane Smith. The Part I for Tom Doe would be completed by checking 2a 
"Person conducting transaction on own behalf and entering $1 1,000 into Item 21. 




Forms of 


Continued on next page 

The FinCEN Currency Transaction Report (CTR), Continued 



The Part I for Jane Smith would be completed by checking 2b "Person conducting 
transaction for another" and entering $5,000 into Item 21. For each Part I, the amounts 
in hem 21 and/or 22 (depending on whether the report is for cash in, cash out, or both) 
should be the total amount of all cash-in and/or cash-out transactions reflected in the 
FinCEN CTR involving that individual or entity. 

Part 1 of the 
- Item 21 

How do I properly complete Part I on the FinCEN CTR for deposits into a joint 
account? What amounts do we show in Item 21 for each Part I? For example, John 
and Jane Smith have a joint account together. John Smith deposited $5,000 into the 
account; later in the same business day, Jane Smith deposited $7,000 into the 

When a deposit is made into a joint account, the deposit is presumed to be made on the 
behalf of all account holders because all account holders have potential access to the 
account balance, and multiple Part Is are required. In this example, the financial 
institution would complete two Part Is. For Item 2 of each Part I, the financial institution 
would check 2a "Person conducting transaction on own behalf and complete the 
applicable information for either John Smith or Jane Smith. Item 21 for each Part I would 
be completed similarly by entering $12,000 and providing the account number affected. 

Note: If Jane Smith did not conduct a deposit, but John Smith deposited $12,000 into the 
joint account, then in completing Part I for Jane Smith you would check 2c "Person on 
whose behalf transaction was conducted," complete the applicable information in Part I 
for Jane Smith, enter $12,000 in Item 21, and provide the account number affected. 

Part 1 of the 
- Item 22 

How do I properly complete Part I on the FinCEN CTR for withdrawals from a joint 
account? What amounts do we show in Item 22 for each Part I? For example, John and 
Jane Smith have a joint account together. During one business day, John Smith withdrew 
$12,000 from the account. 

Since John Smith made a withdrawal from the joint account in excess of $10,000, then the 
financial institution would list Jane Smith's information only if it has knowledge that the 
transaction was also being conducted on her behalf. If the financial institution does not 
have knowledge that the withdrawal was conducted on behalf of Jane Smith, then it would 
neither be required to nor prohibited from listing Jane Smith in a second Part I. 

Therefore, if the financial institution does not have knowledge that the withdrawal was 
conducted on behalf of Jane Smith, the financial institution would complete a Part I on 
John Smith. For Item 2 of Part I, the financial institution would check 2a "Person 
conducting transaction on ovm behalf and complete the applicable information for John 
Smith. Item 22 for Part I on John Smith would be completed by entering $12,000 and 
providing the account number affected. 


The FinCEN Currency Transaction Report (CTR), Continued 

However, if the financial institution does have knowledge the withdrawal was 
completed on behalf of both John Smith and Jane Smith, the financial institution must 
complete two Part Is. In completing a Part I on John Smith, the financial institution 
would check 2a "Person conducting transaction on own behalf and complete the 
applicable information for John Smith. In completing a Part I on Jane Smith, the 
financial institution would check 2c "Person on whose behalf transaction was 
conducted" and complete the applicable information for Jane Smith. Item 22 for each 
Part I would be completed similarly by entering $12,000 and providing the account 
number affected. 

What is the proper way to complete Part I of the FinCEN CTR when different 
individuals are depositing to the same business account? 

Scenario: Bob Smith deposits $6,000 into an account for ABC Hotel. Later in the same 
business day, Lisa Williams deposits $8,000 into an account for ABC Hotel. 

The financial institution would complete three Part Is for the above scenario: 

• A Part I on Bob Smith would be completed by 1) checking 2b "Person conducting 
transaction for another," 2) completing the applicable information for Bob Smith, 
and 3) entering $6,000 in Item 21 and providing the account number affected. 

• Another Part I on Lisa Williams would be completed by 1) checking 2b "Person 
conducting transaction for another," 2) completing the applicable information for 
Lisa Williams, and 3) entering $8,000 in Item 21 and providing the account 
number affected. 

• Another Part I on ABC Hotel would be completed by 1) checking 2c "Person on 
whose behalf transaction was conducted," 2) checking Item 3 "Multiple 
transactions," 3) checking "If entity," 4) completing the applicable information for 
ABC Hotel, and 5) entering $14,000 in Item 21 and providing the account number 

What is the proper way to complete the FinCEN CTR for sole proprietorships 
and legal entities operating under multiple DBAs? 

Institutions can continue to refer to Administrative Ruling titled "Reporting of Certain 
Currency Transactions for Sole Proprietorships and Legal Entities Operating Under a 
"Doing Business As" ("DBA") Name," FIN-2008-R001 . 

Part 1 of the 
Item 22 


Part 1 of the 
- Different 

Completing the 


Continued on next page 

The FinCEN Currency Transaction Report (CTR), Continued 

Completing the 



This ruling replaced the previous ruling entitled Currency Transaction Reports on 
Sole Proprietorships (FIN-2006-R003 ). FinCEN does not require a covered institution 
to complete two Part Is when completing the FinCEN CTR for a sole proprietorship or 
a business operating under a DBA name. Below are examples of how to complete Part 
I of the FinCEN CTR for situations similar to those provided in FIN-2008-R001 . (To 
open the examples, please double click on the embedded icon). (To open the 
examples, please double click on the embedded icon). 

Example 1 - 

/ No Employees 

Jane Q. Smith operates a sole proprietorship that does business under the DBA name 
ABC Express. ABC Express does not have any employees, so Jane and the sole 
proprietorship have the same TIN. Jane lives at 123 Home Address Road and operates 
ABC Express from that location. On February 6, 2013, Jane Smith deposited $12,000 
into account #12345. Provided below is a proper way to file a CTR on a reportable 
transaction involving ABC Express. 

Example 2 - 

/ Multiple 

Jane Q. Smith operates a sole proprietorship that does business under the DBA name 
ABC Express. ABC Express has several employees, so Jane and the sole 
proprietorship have a different TIN. Jane's SSN is 121-21-2121 and she lives at 123 
Home Address Road. ABC Express' EIN is 232-32-3232 and it is located at 456 
Business Address Drive. On February 6, 2013, Jane Smith deposited $12,000 into 
account #12345. Provided below is a proper way to file a CTR on a reportable 
transaction involving ABC Express. 

Example 3 - XYZ Incorporated, a beverage wholesaler corporation, operates under the DBA name 
Corporations ^NO Beverage. XYZ Inc.'s EIN is 787-87-8787. XYZ Inc. registered MNO Beverage 
with its own EIN of 434-34-3434. XYZ Inc. is located at 789 Corporate Boulevard. 
MNO Beverage is operated at 001 Drakes Bill Avenue. On February 6, 2013, John 
Smith deposited $30,000 into account #34567 of MNO Beverage. Provided below is a 
proper way to file a CTR on a reportable transaction involving MNO Beverage. 
FAQs associated with Part II of the FinCEN CTR. 

- 101 - 

Banks, Vendors and Currency Rates 

Banks Bank of America 
Wells Fargo - Foreign Exchange Services - Currency Calculator 

Dealers Sterling Currency Group - Sell rates for Dinar and other currencies - Exchange Rates - Sell Currency rates - Dinar Exchange rates 

Forex - Rate charts - Currency table forex quotes. html?sOSvnis=US 



Yahoo Finance Currency - USD/IQN [check back after RVfor IQN] 

Yahoo Finance Currency Charts - USDA^ND [check back after RVfor VNN];range=5 

Yahoo Finance Currency Charts - USD/INR [check back after RVfor INN];range=5d; 

Other TravelEx USD. html 
Thai Central Bank lavouts/Applicati 
on/ExchangeRate/ExchangeRate . aspx 

35 Ways to Pay Reserves/Layaways 


























Continued on next page 

- 103- 

35 Ways to Pay Reserves/Layaways, Continued 













Miscellaneous Details 



3. ($40 annually) 

4. LiberteaMS ($40 annually) 


For further protection, encrypt your e-mail, using high-level, 1024-bit encryption 
software, such as Pretty Good Privacy (PGP), http:// www.pgp.comZero Knowledge 
Systems (ZKS) offers software called "Freedom" which also uses 1024-bit 
encryption and which: Allows you to use multi-pseudonyms that can't be traced to 
your real name Prevents the receipt of Internet cookies Provides multi-layers of 

The FDIC's own brochure: 

What I really like about the 28-page PDF, is that it shows a FAST method of taking 
care of all your beneficiaries while you wait for your Trusts to be set up. Check out 
Revocable Trust Accounts section. It says that you can set up an informal trust 
immediately, by simply naming Beneficiaries on your account, with $250,000 
insurable for each one. Payable on Death (POD) account. 

If you're in a hurry and just want the summary, go to p. 18, where Example 7 shows 
how a family of 4 (husband, wife, and 2 minor kids) could easily have $3 million in 
one bank, with ALL of it FDIC insured. The $3 Million assumes only those 4 people 
as beneficiaries. If you want to add more beneficiaries, that goes way up quickly. 
Let's say you want to have Grandma as a beneficiary. Husband adds Grandma to his 
POD account for $250,000, and Wife adds Grandma to her POD account for 
$250,000. Now you have an extra $500,000 of insured deposits, just by adding one 

In addition to our single, joint, and IRA accounts, my family plans to have these 
POD accounts, while we wait for our Formal revocable trusts to be set up. 

Estate Planning 

Private http://www.washingtongrantmakers.0rg/s wash/images/client/TopTenTrouble.pdf 


Continued on next page 

Private Email 



- 105- 

Miscellaneous Details, Continued 

10 Terrific The rates can be researched at any stock market watch site. 
Paying Stocks ^, 

' Chevron (CVX) 

Intel (INTO 

Johnson & Johnson (JNJ) 

McDonald's (MCD) 

Nestle (NSRGY) 

Novartis (NVS) 

PepsiCo (PEP) 

Procter & Gamble (PG) 

Verizon Communications (VZ) 

20 Things Tom Corley, on his website, outlines a few of the differences between 

tlie Ricli ijjg habits of the rich and the poor. 

do Every 


1. 70% of wealthy eat less than 300 junk food calories per day. 97% of poor people eat more 
than 300 junk food calories per day. 23% of wealthy gamble. 52% of poor people gamble. 

2. 80% of wealthy are focused on accomplishing some single goal. Only 12% of the poor do 

3. 76% of wealthy exercise aerobically four days a week. 23% of poor do this. 

4. 63% of wealthy listen to audio books during commute to work vs. 5% of poor people. 

5. 81% of wealthy maintain a to-do list vs. 19% of poor. 

6. 63% of wealthy parents make their children read two or more non-fiction books a month 
vs. 3% of poor. 

7. 70% of wealthy parents make their children volunteer 10 hours or more a month vs. 3% of 

8. 80% of wealthy make Happy Birthday calls vs. 11% of poor. 

9. 67% of wealthy write down their goals vs. 17% of poor. 

10. 88% of wealthy read 30 minutes or more each day for education or career reasons vs. 2% 
of poor. 

11. 6% of wealthy say what's on their mind vs. 69% of poor. 

12. 79% of wealthy network five hours or more each month vs. 16% of poor. 

13. 67% of wealthy watch one hour or less of TV every day vs. 23% of poor. 

14. 6% of wealthy watch reality TV vs. 78% of poor. 

15. 44% of wealthy wake up three hours before work starts vs. 3% of poor. 

16. 74% of wealthy teach good daily success habits to their children vs. 1% of poor. 

17. 84% of wealthy believe good habits create opportunity luck vs. 4% of poor. 

18. 76% of wealthy believe bad habits create detrimental luck vs. 9% of poor. 

19. 86% of wealthy believe in lifelong educational self-improvement vs. 5% of poor. 

20. 86% of wealthy love to read vs. 26% of poor. 

Continued on next page 

Miscellaneous Details, Continued 

27 Simple Ways to Become a Better Negotiator 

Negotiation is often conjures up images of a sleazy car salesmen, high-profile sports 
contracts, and Hollywood-style money deals. That's a shame because negotiation 
doesn't have to be sleazy or awkward. Furthermore, most negotiating situations are 
much more routine than buying a car. Where to go for dinner? What movie to watch on 
Friday night? How to split the bill at lunch? 

The approach that has been most successful for me has been to use "natural 
negotiation." Natural as in natural conversation. You don't force your way in. You don't 
make a fuss. You don't burn bridges. Instead, you treat the exchange as a conversation 
instead of an argument. Quite often what you end up with is the most desirable 
outcome: the other side will happily give you what you want. Win-win. 

These 27 tips will help you become a friendly natural negotiator... and that will make 
everyone happy. Oh, and don't dismiss some of them as too simple. If it's "too simple" 
for you to take seriously, then you're probably not doing it. 

Developing the right mindset 

1 . Accept the fact that you need to negotiate. You may not like it. It might make 
you feel awkward. The fact is, we all negotiate whether we want to or not. And 
if choose to ignore it, then you will lose. Very few people will try to create an 
outcome that is harmful to you, but almost all people will do what is in their best 
interest. If their best interest and your best interest don't align, then you lose. 
That's where knowing the basics of negotiation - and learning how to use them 
- prevents you from getting stepped on and pushed over. 

2. Forget about the price tag and focus on what you are willing to pay. Economics 
101: an item is worth what someone is willing to pay it. There is no reason to 
accept the given price if you're not willing to pay for it. The agreement between 
buyer and seller happens during every purchase. There is nothing wrong, cheap, 
or immoral about asking for a lower price. 

3. Know how much value you hold. Do you know how valuable your business is? 
For many businesses, the cost of acquiring a new customer is very high. 
Companies pay for advertising, marketing, shipping, packaging, and a whole 
host of other costs all just to get a product in front of you. Even if you buy a 
product or service for 50% of the regular price you are making all of those costs 
worth it to the company because they got a new customer. And if they do a good 
job, then maybe you'll be a repeat customer. So that first 50% was totally worth 
it. Negotiate for a discount; your business is worth it. 

Continued on next page 

Becoming a 



- 107- 

Miscellaneous Details, Continued 

4. Know what you are willing to accept. Not every negotiation can be planned ahead of 
time, but you can prevent a dumb mistake by knowing where you are going to call it 
quits before you start talking things out. Know what options are out there. How much 
does that car usually sell for? What is a t5^ical rental rate? Do your homework and, if 
you can, bring proof. 

5. Just try one new thing. If negotiation makes you uncomfortable, then only focus on 
doing one thing out of your comfort zone. You don't need to be a master negotiator 
to get your desired result. Sometimes one little addition is all it takes. 

How to start 

6. The way you enter a room can dictate how the rest of an interaction will be. Ever see 
someone slump through a doorway with a scowl on their face? Not very inspiring. 
Keep your head high and smile when you enter. Starting things off with a positive 
vibe is very important, no matter how small it is. 

7. Find a person who can help you. The first person you talk to will not always be in a 
position to deal with your situation. If they don't have the ability to make the changes 
you need or give you the discount you want, and then politely ask to talk with 
someone that does. 

8. Don't dismiss someone on a bad note. If you do need to switch to someone else, and 

then remind the person you are currently talking to that you're happy with their 
service and you appreciate their help, but you would like to talk with a manager. 

9. Kick things off by talking about a mutual interest, making a true compliment, or 
finding common ground. Talk about something you both like before starting to ask 
for what you want. 

What to say 

10. Use the other person's name. It's so basic that almost everyone forgets. 

11. Focus on creating a cooperative discussion instead of an adversarial argument. Use 
the word, "We" to signify that you're working through this together. For example, 
"You know, $100 is a good starting place. Now we just need to work out the details." 

Ask about alternative options. Most places have all types of discounts, reduced rates, 
secondary options, and other alternatives that can be applied. You'll never know 
what options exist if you don't ask. There is almost always more than one way to 
solve a problem. 

a Better 


Continued on next page 

Miscellaneous Details, Continued 

If you have a bill with multiple items, always negotiate each individual item first. 
Go line by line and see if there is an alternative option, a discount, or if you can 
simply eliminate that item altogether. Then, when you have made it through the 
full list, you can ask for a group discount. 

13. Ask open ended questions. For example, avoid asking, "Do you offer a discount?" 
The obvious answer is, "No." Instead say "What is your discount for..." as it 
requires more of an explanation. (Hat tip to my friend Baker at Man Vs Debt) 

14. If you can, offer to pay in full right away. Paying in full saves the business from 
the hassle of managing your payment plan or calling you in the future for money, 
so that benefit should be worth a discount on your end. 

15. Give yourself an out. Negotiations often go south because blame gets assigned to 
one side or the other. Make it easier on both parties by referring to someone off 
the scene. A simple, "I'll have to run this by my spouse/business partner/attorney," 
can make it a lot easier. It prevents you from looking like the bad guy. 

16. Listen more, talk less. You don't need to say much. Tj^ically, the person that talks 
more ends up saying something they regret. Silence can make some people feel 
awkward, but a well timed pause can say a lot. 

17. Don't offer an ultimatum. "This is my final offer." "Take it or leave it." "I demand 
20% off." Nobody likes being told what to do. Ease up, Corleone. 

18. Acting like price is the only thing you care about is disrespectful. Saying, "What's 
the most you will pay?" or "What's the lowest price you can offer?" totally 
eliminates any human element of the conversation. Think about the person on the 
other end of the phone, other side of the screen, or other side of the counter. 

19. Ask for what you want. The world is a good place with good people, but most of 
them are too busy with their own jobs to figure out what you want for you. People 
are willing to help, but you need to show them what to do by asking for what you 

20. Don't be vague. Stop beating around the bush or trying to tiptoe your way to a 
discount. Instead of hinting at what you want and hoping they figure it out, just 
clearly ask for your desired outcome. You'll be surprised by how often you get it. 

21. Ask the other side to help you. Another great tip from Baker: 

Continued on next page 

Becoming a 




- 109- 

Miscellaneous Details, Continued 

The "what-would-you-do-in-my-shoes" question — My favorite way to initiate 
this question is to say, "Here's the main issue... [restate problem plainly]... 
what would you do in my shoes? " Asking questions like this is an effective way 
to generate all sorts of creative ideas that you would never even thought to ask. 
I often ask this to customer service representatives after being told "no ". - 
Baker, Man vs Debt 

How to finish 

22. Don't put all that work in and blow it at the end. It's easy to get nervous and 
panic when you're on the verge of getting what you want. If you're excited and 
don't know what to do, then just ask for what you want and be quiet. Talking to 
much or play it carefully at the end rarely works out well. 

23. No deals on a handshake. If you get a new price, a discount, or any other benefit, 

then ask for it in writing. Don't just take their word for it unless you want to 
negotiate for it again later. Just make it easier on everyone and get them to write 
it down. 

24. Call back or come back. Sometimes you get the wrong person. Sometimes you 
start off on the wrong foot. Sometimes you catch an employee on the wrong day. 
Getting someone with the right personality can make all the difference in the 
world. If your conversation isn't getting anjwhere, then hang up, head out, and 
try it again some other time. 

25. Treat people with respect. No discount is worth burning bridges, ruining 
relationships, or making people feel disrespected. In the long run, you are better 
off paying a higher price and keeping the good will. 

26. Don't take it personally. Maybe you'll get what you want. Maybe you won't. 
Life will move on either way. Most people will never have a negotiation that 
will make or break their life. Keep it real and don't get emotionally involved. 

Becoming a 




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- Ill - 

Common Terms 

These terms are used throughout our forums and discussions. 

ASN - Any second now 

JL - Jack Lew (UST) 

BIS - Bank of International Settlements 

JPMC - JP Morgan Chase 

BOA - Bank of America 

LOP - removing of zeros ( either literally where 

BS - Blatant Shiggity 

25 K becomes 25, or merely removing fi-om 

CBI - Central Bank of Iraq 

circulation/streets ) 

CC - Conference Ccall 

NIBA/NIB - Non-Interest Bearing Account 

CCC - Clean and Clear Certificate (Funds bank 

NCO - Non-criminal origin 

verified; clean source) 

POF - Proof of Funds for Cash Purchase ( Clean, 

CE - currency exchange 

non-criminal, counterfeit or laundered) 

CL - Christine Legarde (IMF) 

PTB - powers that be 

EU - European Union 

RD - redenomination 

FRN - Federal Reserve Note (the money we now use in 

RI - reinstatement 

the USA) 

ROFLMAO - Rolling On Hoor Laughing My 

FX - Forex 

A$$ Off 

GCR - Global Currency Reset 

RV - Revaluation 

GOI - Government of Iraq 

UST - United States Treasury 

HCL - Hydrocarbon Law (oil & gas related) 

VNNA^ND - Vietnamese Dong 

IMF - International Monetary Fund 

WF- Wells Fargo 

IMHO - In my humble opinion 

IMO - In my Opinion 

IB A - Interest Bearing Account 

IQN/IQD - L-aqi Dinar 

ISX - Iraqi stock exchange